Issue:
Updated the cost/list price for item in
Inventory> Item > changed list price
, however, the new cost is not showing up . The report is still pulling old list price in the
Value Report - by Sub inventory,
Reasons?
Solution:
If cost method is Standard
Selling Price > is one price defined in OM Price List that will be choose during the creation of sale order.
But Value Report (by organization or Sub inventory).
This is not selling price. to get the inventory value you need to define
the "Cost" of the item in the Costing Form.
if any transaction with this item, so you need to define first
the item cost > Material element > in "Pending" cost type and then to
"Update" the Std, cost, using the concurrent (in costing request list).
after that need to run the Inventory Value report. (of course you need to
have stock -:).
If the cost method is Average
there is an option to "Update" the cost.
Go to Item
Cost > Average Cost Update > Update Cost > search for the Item >
and enter New Average Cost.
