GP Stock Count Entry

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We just processed an inventory for our branches and we noticed that when we posted the inventory tags GP made on hand and off hand adjustments to our inventory and changed the cost of the inventory to the current costs. Since I am not sure I am explaining this very well I have provided an example.

Pre inventory count = 750 lbs @ 1.00/lb under batch number IL-B00001

Post inventory count = 750 lbs @ 1.25/lb under batch number IL-B00001

GP took 750lbs off hand for a value of $750.00 and then put 750lbs back on hand with a value of $937.50.

Can anyone explain why if there was no change in qty and batch why GP would make that adjustment to the value of our inventory?

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Mahmoud Saadi 32,738 on at

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RE: GP Stock Count Entry

Supposing that your inventory valuation method is FIFO, the inventory adjustment out withdrawn the available cost layers "which would be historical" at their actual cost, in your case it is 1.00/lb

When entering an adjustment "in", the cost will be derived practically from the current cost, which is the most recent cost for the item, in your case it is 1.25/lb

Does this make any sense ?

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Community Member on at

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RE: GP Stock Count Entry

This does make sense and if we were doing an inventory transaction that would be correct however we were processing a stock count. All we did was enter what was counted a let gp post the transaction. We didn't actually take the inventory off and then process another transaction to put the inventory back in.

I don't think I explained it very well above so I apologize for any confusion.

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Mahmoud Saadi 32,738 on at

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RE: GP Stock Count Entry

Not at all, I would be glad if you share further details, screen shot....

Looking forward to hearing from you,

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babubaskaran@outloo... 12 on at

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RE: GP Stock Count Entry

Just to add valuable suggestion made by Mahmoud, can you please confirm whether you have enable multibin on inventory. So when you enter inventory count you might have entered qty on one bin which might had different cost and not entered qty on another bin so the inventory variance process might include different cost on the stock count post. Let me know if this is the case.

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