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Adjusting inventory avg cost as at a past cutover date

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Posted on by 23
Hi inventory gurus,
 
I'm working on inventory cutover and know that item quantities x unit avg cost (Average cost method) must tally with the Inventory Account in the Balance Sheet.
 
At the end of the month (e.g. Feb), I have the quantities for items in stock (from the 3PL source).  I can use the item quantities for my Item Journal used to create the cutover value that must tally with Inventory Account.
 
BUT, the avg cost of each item will only be reconciled in the existing system by the accountant, and it is only ready in the 3rd week of March.
To enable my cutover, I would use the Jan. month reconciled item avg costs - this will produce an Inventory Amount <> Inventory Account end of Feb.
 
There will be sales and purchase transactions between 1 Mar and 3rd week of March when the Feb. month-end avg item costs are reconciled to end Feb inventory account.
 
Can I then use Item Revaluation for the items to adjust the avg unit cost at end Feb from the Jan. reconciled cost to the Feb reconciled cost?
Is this the correct?
Or is there a better approach?
 
Thank you
Peter