Reducing Unit Cost on Item Card to 0 (FIFO costing method)

jmw

Hello,

This question has probably been asked many times before, but I have not found an answer that would help us.

We would like to reduce Unit Cost of an item on the item card to zero. Item has ledger entries. Costing method is FIFO.
We tried with Inventory Journal and Revaluation Journal. We were able to bring Last Direct Cost to 0 but not Unit Cost. The problem is – when we run Physical Inventory, cost that is pulled in is Unit Cost, from the item card and that is the one that we cannot change.

Has anyone been able to change unit cost on item card, for items with costing method FIFO? Please share your knowledge or please share a link if came across a thread with a solution that helped you.

Thank you ,
Jasmina

Alex_Chow

That's the estimate unit cost. The purpose of that field is so you don't accidentally bring in a bunch of inventory at 0 cost.