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revaluating the average cost
richtsang
Member Posts: 41
Hi,
My client is using average cost by day.
When we started, we haven't turn on the automatic cost adjustment. After a month, some items' costs are incorrect. It is due to the credit memo.
Although I run the ACIE, the system cannot calculate the correct average cost. SO, my client likes to make adjustment to the costs. He want to adjust the NOV closing balance of inventory.
Remember the business is going on, so, some entries have been entered to DEC and JAN. When I did the revaluation journal, I cannot adjust the balance at NOV. If I use the manual way, I can adjust the open item ledger. However, it is not correct as well. When I use the calculate inventory, it is not correct too. So, may I know which steps I have missed? I need to adjust the closing balance of inventory 2 months ago.
thanks for any advice.
richard
My client is using average cost by day.
When we started, we haven't turn on the automatic cost adjustment. After a month, some items' costs are incorrect. It is due to the credit memo.
Although I run the ACIE, the system cannot calculate the correct average cost. SO, my client likes to make adjustment to the costs. He want to adjust the NOV closing balance of inventory.
Remember the business is going on, so, some entries have been entered to DEC and JAN. When I did the revaluation journal, I cannot adjust the balance at NOV. If I use the manual way, I can adjust the open item ledger. However, it is not correct as well. When I use the calculate inventory, it is not correct too. So, may I know which steps I have missed? I need to adjust the closing balance of inventory 2 months ago.
thanks for any advice.
richard
0