I have the scenario that to know how the inventory has the latest purchase price. Because I want to compare if not same price, i will run some batch to update the inventory price. Do you have any idea?
Thanks and regards,
The parameter of “Latest purchase price” in purchase tab of released products needs to be enabled. Then the latest purchase price will be updated when the item has a new purchase price.
And there is a parameter called "Last price history" in the inventory accounting tab of Inventory and warehouse management parameters, the latest price willnot be overwritten when a price is updated. And you can find each purchase price in the item price of top manage cost tab in released products.
Like MattGuo mentioned, there are options to get the latest price updated. What would be the business reason to update the inventory price? Are you intend to update it after every purchase? What inventory costing model are you using?
This is could be the revaluation of inventory value and needs to update the inventory based on latest price.
Thank you for your reply.
Thanks, Mattguo, this is great help for me.
To be able to get the cost value of existing on-hand inventory updated, you need to do additional actions. That is why I did ask what cost model you are using. If you are using Standard cost or Moving average, then adjusting the inventory value is a different procedure compared to other options like e.g. FIFO or LIFO..
Actually, I am using now the FIFO costing model and I understand now.
Thank you Andre
Business Applications communities