Changing costing method

ajmalsherif

Is there an issue with changing Costing Method? Most of the Items are set to FIFO but some by mistake have been set to Average. Of these some have been sold and some have been Cost Adjusted.

What are the implications of simply changing the method to FIFO?

Thanks in advance for any comments.

durgaprasath26111982

Hi

First of all, you cannot change the costing method if any ledger entries are posted.

ajmalsherif

I suppose new Item cards can be created or what about reversing the posting and starting again?

ara3n

Search the forum on this.

The quick solution is to rename the item to a different number. zero inventory, make sure it's not used anywhere and block it.
Create a new item.