Valuation for Remaining Quantities

navuser1

Dear all,

I have given a report (Valuation of Remaining Inventory) to prepare. The report will give the exactly the same picture as Inventory Valuation report gives but in different way.

Actually, I want a report where we can able to see the Remaining Inventories figures with their remaining quantities & their values (cost posted to G/L for those quantities).


If it’s still not cleared then please look into the (expected) scenario as mentioned below.

Item is 1000 Bicycle, Costing Method – FIFO.
Base Unit of Measure = Sales Unit of Measure= Purch. Unit of Measure = PCS.

On 01/07/2015 – I made a Purchase Receipt (GRN) of 10 Quantity @ Rs.1
On 02/07/2015 – I made a Purchase Invoice (On GRN) of 1 Quantity @ Rs. 1.1
On 03/07/2015 – I made a Purchase Invoice (On GRN) of 1 Quantity @ Rs.1.2
On 04/07/2015 – I made a Purchase Invoice (On GRN) of 1 Quantity @ Rs.1.3
On 05/07/2015 – I made a Purchase Invoice (On GRN) of 1 Quantity @ Rs.1.4
On 06/07/2015 – I made a Purchase Invoice (On GRN) of 1 Quantity @ Rs.1.5
On 10/ 07/2015 – I made a Sales shipment (with Invoice) with 2 qty.

Now I have 8 PCS Bicycles in my stock (out of 10).
I need a report on that 8 PCS with their Rate (Cost per Unit).

Which Rate should be considered ?
What is your suggestions ?

Thanks!

bbrown

In the end your inventory is valued at 1.15 per unit. The 2 units sold had a total COGS of 2.30 and the 8 units remaining have a total value of 9.20. Since there's only 1 ILE, FIFO really has no bearing. The total cost is just distributed across the quantity.