Stock Revaluation

teaboy

I would like to know if you have heard of any other way to revalue stock received not invoiced other than an item journal (which is hit and miss at the moment) or changing the price on the PO. :-k

David_Singleton

teaboy wrote:

I would like to know if you have heard of any other way to revalue stock received not invoiced other than an item journal (which is hit and miss at the moment) or changing the price on the PO. :-k

How can you revalue if you don't even have the cost yet? ](*,)

ssingla

May be he is talking about Expected Cost

matpod

If you have a large quantity of consignment stock, (stock you do not pay for until it is sold) then you should reflect the value of this in the balance sheet (even if it is an expected cost) as you have a liability for the stock.

A commodity item which fluctuates in value would then need to be revalued either monthly or annually.

Perhaps this is his circumstance??

bbrown

Inventory value is a reflection of what it cost to acquire the inventory, not what it would cost it would cost to acquire today.

kapil4dynamics

teaboy wrote:

I would like to know if you have heard of any other way to revalue stock received not invoiced other than an item journal (which is hit and miss at the moment) or changing the price on the PO. :-k

NO but yes price can be changed.

teaboy

The cost is taken from the PO and you are unable to use the stock revaluation journal until you have posted the invoice.We have decided to change the cost on the PO to bring the revaluation of the item which has a costing method of average into the unit cost range required. Honestly some people