Standard Costing

ashley

Dear All,

Anyway to find out how does Inventory Valuation Report calculates the value?

This is because i have an item (with standard costing) method with initial standard cost of $2.00 (for instant) and later on i amended the standard cost to $4.00. I am expecting this item price to follow the latest standard cost but it seems like both standard costs included.

How to get what i mentioned above?
I created a new item (costing method: standard) and post it in item journal then create a sales order, preview at inventory valuation report. After that, i amend the standard cost in the item card and create another sales order then preview in inventory valuation report.

Thanks in advance for reading my post

ara3n

If you want to update historical transactions, you have to revalue the historical transaction. Otherwise they will stay at their historical std cost value.

ashley

Dear ara3n,

Thank you so much for the reply and your information is helpful.

Yes, i am on my way to revaluation the transactions

With reference to my another post, i found that i could utilize the batch job to change the standard cost