This content has been marked as final. Show 2 replies
You can look the details in the cost management user guide p 1-7 for comparation
to summarize, standard costing values your inventory based on a predefined cost for every inventory asset items, any variance of cost caused by different PO price / inventory value from other IO are to be journaled against the purchase price variance account.
average costing values your inventory based on a moving average cost for every inventory asset items. your inventory values will move along with different costs of inventory transactions.
in the case of cost update, you specify the increase / decrease of your items' values, and upon adjusting, an adjustment journal will be created
this new unit cost will be used in new transactions, as old transactions are already being record in accounting, in case of perpetual costing. For periodic costing, the updated cost will be used for all transactions in that period
for details and procedures please refer to the user guide.
i remember you helping me in all my threads
You look pretty experienced
I have some threads opened ..they are on the first page
one is about costing and other is about PO accounts
See if you can help me on those
any help would be greatly appreciated