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can you please help confirm if my understanding is correct when posting "packing slip"
when we post Delivery note,
DR: Order offset account packing slip X
CR: Order packing slip X
IF the item model group for the item is "standard" it will follow the cost amount in Item master.
IF not, it will use weighted average until inventory revaluation.
If you use standard costs, the active standard cost value that you can find in your costing version will be used for posting the PO packing slip. In case you ordered the items for a price that differs from the standard costs, a purchase price variance is posted.
There are many other alternatives to standard costs, such as weighted average, FIFO, LIFO, ... valuations.
Those valuation principles will, however, not influence your purchase transactions; they only affect issues of items.
That is, those principles will apply if you sell, scrap, return, ... items and take them out of your inventory.
Initially, a running average price is used for this but with the inventory close/recalculation, the valuation principles are applied.
For additional details, please see:
Are you sure he meant purchase order when he said Delivery note?
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