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Issue with Inventory Aging Report - Incorrect Cost Price Display

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Posted on by HJ-06101750-0 5

Hello Team,

I’m facing an issue with the Inventory Aging Report. I have updated the cost price for the item lines on the product, but the report is still displaying a different value. Could anyone clarify from which field the "Average Cost Price" column in the Inventory Aging Report pulls its data?

Additionally, is there a way to ensure that the correct cost price is synced and reflected accurately in the report?

Thank you for your help!

Categories:
Financial Management
  • Suggested answer
    Bill Ngo Profile Picture
    Bill Ngo 181 on at
    Issue with Inventory Aging Report - Incorrect Cost Price Display
    Hi HJ,
     
    The "Average Cost Price" column in the Inventory Aging Report pulls its main data from Inventory transactions (path: Inventory management > Inquiries and reports > Transactions).
     
    How the Average Cost Price calculation it is depended on your selected parameters (e.g. included/excluded site/warehouse/etc.) before printing report and setup cost value for Storage dimensions (calculated by site/warehouse/ etc.). 
    If your inventory model is Include physical value, there is a way you can ensure that the correct cost price is synced and reflected accurately in the report as below:
    1. In the Transactions form,
    - click Dimensions display, and turn on all dimension that relating to yoru checking (Site/warehouse) 
    - add more field called Physical cost amount,
     
    2. Filter and display all transactions for an item for checking cost price,      
     
    3. You can check the Average Cost Price in excel by exporting all transactions for an item to Excel. On Excel, you can calculate the Average cost price by dividing the total Physical cost amount by the total Quantity which sum by site/warehouse to compare with the report.
     
    Best Rgds,
    Bill
     
     
  • Suggested answer
    VaHiX Profile Picture
    VaHiX 1,054 on at
    Issue with Inventory Aging Report - Incorrect Cost Price Display
    It is calculated based on the cost prices recorded in these transactions, which include all the financial updates made to the inventory items over time.
     

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