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Hi All,
In the Item master form,there is a field called "latest cost price ". What is the use of this field and how to use this field in implementation process ?
Thanks in advance
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Hi lally,
The value entered in this field is for example used when you post inventory journals during migration. Also the other inventory adjustment journals make use of it. Yet, depending on the inventory model chosen, AX might retrsospectively change this price when for example inventory is closed.
Note: when you enter and activate cost prices in a costing version, the field is automatically updated with the price activated there.
Hope this helps answering your question.
Best regards,
Ludwig
Thanks for the reply,
Is it just for information purpose or does it play any other importance ?
Basically yes, except for Standard cost items.
If you're using one of the actual costing methods, AX will use this cost price on the item record when it cannot find a cost to use.
For example, if you have no on-hand inventory of an item, and AX needs to know the cost price of the item, it will look at this field. Examples of when this might happen include if you are using the margin information on the sales order line, and you take an order for an item which is not in inventory. Or if you're doing an inventory count, and you count an item which AX previously thought you had no stock of.
[quote user="Ludwig Reinhard"] except for Standard cost items[/quote]
[quote user="Ludwig Reinhard"] Note: when you enter and activate cost prices in a costing version, the field is automatically updated with the price activated there.[/quote]
I believe in this case also just reporting purpose only ...any other importance.
Hi Lally.
Good Day. :)
Latest cost price, you can locate in Product master.
It is CHECKED, product cost price will get updated with every Inventory transactions.
If it is Unchecked, You need to setup cost price and active it.
Use:
You can use it for BOM calculation process, Estimation, considering latest cost while posting Inventory journal with Negative Qty.
Hope it helps.
Regards,
PratikB
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