Unit cost of the Item

krvenkata

Dear All

I have an issue for which i need some advice. We had uploaded the stock of a warehouse on 13-Apr-2010 without updating the unit cost in the Item journal for these stocks. So the cost is zero. But we had made sales after that with the sales price defined in the master.

Now due to this my inventory & COGS in COA is not having any value and the cost amount (actual) in item ledger entry for all entries is zero.

Now how to correct this issue so that the item ledger entry updated with the stock is having correct value and all the sales made after uploading the stock has correct COGS information and also the unit cost in item card reflects the correct value..

Please advise...

Thanks

crisnicolas

Use the revaluation journal to revaluate all the entries you've made.
After posting on that journal, the Adjust Cost - Item entries process will update the value of the sales entries.

chengalasettyvsrao

Addition to that , after you run the revaluation journal select the Applies -to Entry .