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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / change item unit cost
Microsoft Dynamics GP (Archived)

change item unit cost

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Posted on by jrk7352 2,790

I need to change the unit cost associated with an inventory transaction.  When I try to do so using Inventory Adjust Costs I get a message that "the vaulation method for this item is periodic.  use the standard cost rollup to change the standard cost of this item."  How do I do that.  I have changed the cost on the item card. 

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  • jrk7352 Profile Picture
    jrk7352 2,790 on at

    yes, we did recently install manufactoring but it hasn't been setup yet.

  • Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

    Open the Standard Cost Maintenance window from the Item Card Go To menu and click on 'Help'.  The Help files will explain the proper way to change Standard Cost.

    Hope this helps,

  • Jennifer Kaufman Profile Picture
    Jennifer Kaufman on at

    I did search the help before I submitted this case because I didn't find my answer.

  • Suggested answer
    Dan Liebl Profile Picture
    Dan Liebl 7,320 on at

    Since you are on Periodic and have Mfg installed, the standard cost of the item is involved as the adjust cost window is only for perpetual or actual cost items.  Is the standard cost of the item incorrect?  If so, then you need to update a new std cost for the item.   This will then create a std cost valuation entry in the GL adjusting the inventory account and offsetting with the Std cost Valuation account set up on the item.    The original trx would have posted to inventory and the inventory adjustment account.  

    Does this help?

    Dan Liebl, CMA CPIM | Senior Consultant | OTT,Inc | DLiebl@OTT-inc.com

  • Jennifer Kaufman Profile Picture
    Jennifer Kaufman on at

    I was able to change the standard cost of the item on the item card.  However, I want to zero out the cost that was entered at the time of the inventory adjustment.  I'm not sure how you are telling me to update the standard cost of the item.  Using cards > manuf > inventory ?

  • Dan Liebl Profile Picture
    Dan Liebl 7,320 on at

    With Mfg'ing installed, standard costing will work differently.   Std cost is the cost regardless of the amount of the trx.  With actual costing, you can have different costs with different layers so with receipts at $5, $10, $15, and $10, you have an inventory total of $40.  In contrast. with std costing, all layers are valued at the current std cost, regardless of the amount it was received so going back to previous example and with a std cost of $9, the value of inventory is $36 (9 X 4 items) with the remaining $4 going to the variance acount (negative variance).   It is a pretty lengthy discussion to explain how it works and how it affects inventory.   It may make sense to read the manuals and see how std costing works.   Look at the Mfg Core Functions manual chapters (in this order) 5, 14, and 7 (for explanation of each of the accounts).   I may work to change the card, but if you truly are going to use std costing (periodic), I would use the mfg feature as it has far more controls and will keep inventory  much more accurate than will the std GP functionality.

    Dan Liebl, CMA CPIM | Senior Consultant | OTT,Inc | DLiebl@OTT-inc.com

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