I am working on a Project that will convert our costing Method from FIFO to STANDARD.
the process that i am looking at doing will involve
- A Physical Inventory that will set my QOH for all Items to Zero.
- A process Only Report that will cahnge the costing Method from Fifo to standard, and set the current Standard cost based on the Fifo Unit Cost.
- A process only report to Validate all of the Purchase Lines that are unreceived to accurately calculate any PPV based on the New Item Standards.
- a Reversal of the Item Ledger entry created when i set my Inventory to 0.
We are currently using Service and Sales order Processing.
My question is targeted to anyone who may have gone through the process: What concerns should iI be looking at on Sales Orders and Service Orders regarding Unit Costs? Also are there any other areas that you have had problems with regarding a Change in Inventorycosting method. If so what else should i be looking at?