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How is the cost date updated on the cost tab

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Hello!

I am trying to get info on how the cost price on the cost tab for a FIFO item is updated/can be updated automatically.
Item model group is setup

Latest counting is done 2022-09-30

The setup on the purchase tab look like this

The setup om the Cost tab looks like this

There is difference in both dates and amount.

Is the cost price updated with some more settings?

Will the cost price be updated after some inventory closing is done?

I aapreciate to get some links to answers here or from Microsoft Learn

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Hana Xue Microsoft Employee on at

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How is the cost date updated on the cost tab

Hi,
The cost date on the Cost tab for an item is usually updated based on the date associated with the inventory transactions that affect the cost of the item. The cost date represents the date when the item cost was last updated or modified in the system. You can view the following old thread for reference.
https://www.dynamicsuser.net/t/fifo-item-cost-price/61147
Best Regards,
Hana
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Kevin Xia Microsoft Employee on at

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How is the cost date updated on the cost tab

Hi,

You can refer to this official documentation: FIFO with physical value and marking - Supply Chain Management | Dynamics 365 | Microsoft Learn. A periodic inventory close is required when you use the FIFO inventory model to create settlements and adjust the value of issues according to the FIFO principle. Until you run the inventory close process, issue transactions are valued at the running average when the physical and financial updates occurred. Unless you're using marking, the running average is calculated when the physical or financial update is performed. Or you can also refer to this blog: www.dynamicsuser.net.

Best regards,

Kevin

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