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Will a COGS transaction be generated if standard cost field is zero?

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Posted on 24 Jun 2016 17:33:36 by Community Member

Will a cost of goods sold transaction be generated with a FIFO periodic valuation method if the Standard Cost field is zero?

Thank you,

Kim

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L Vail 65,271 on 25 Jun 2016 at 01:28:20

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RE: Will a COGS transaction be generated if standard cost field is zero?

Hi Kim,

Since you're using the Periodic inventory costing method, that translates to using standard cost for your COGS. If your Standard Cost field is zero, your COGS will likewise be zero.

Kind regards,

Leslie
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babubaskaran@outloo... 8 on 24 Jun 2016 at 23:22:34

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RE: Will a COGS transaction be generated if standard cost field is zero?

Cost of goods sold will be generated based on inventory type if it's FIFO cost will be used.

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