My item's valuation method is FIFO Perpetual. I noticed that current cost was high and I discovered that the cost was incorrect on the last receipt. I use Adjust Costs utility to correct the cost of the last receipt. I expected this action to also update current cost, but that did not happen. Should the adjust cost utility have updated current cost in this scenario
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Hi Mahmoud , will updating the current cost directly in the table IV00101 will affect anything or anywhere? We had huge screw up for particular sub assembly which is a make item.
We tried to fix it by creating positive adjustment with new cost and again negative adjustment to reduce the stock. It didn't work. Adjust Cost utility also didn't work. We are in month end to close books and waiting for audit. Could you please advise on this.
Thank you.
Technically speaking, the adjust cost utility calculation is basically related to the transactional tables IV10200 and IV1021 which contains the purchase receipt and purchase receipt details. It practically start with the cost layer in IV10200 then look for all related purchase receipt details in IV10201 through (sequence number and source receipt sequence number).
Current cost which is stored in item master, IV00101 is definitely not part of this.
Please never hesitate to share any further inquiries,
Thanks for the quick responses. Current Cost is also updated if the cost is adjusted during the enter/match invoice process. I assumed the Adjust Cost Utility would also affect Current Cost, but my testing and your responses have proven that assumption to be incorrect.
That is so right, the Adjust cost utility doesn't update the current cost, which is the cost of the most recent receipt posted the inventory module. This field will get updated in two cases;
Please never hesitate to share any further inquiries,
No, the Adjust Cost Utility only updates the receipt layer, and possibly any sales quantities that were previously consumed from that layer.
If you want to also update the current cost, you should be able to make that adjustment manually, directly in the Item Maintenance window.
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