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Evo-ERP and DBA Classic >> Sales >> STANDARD COST OF GOODS SOLD
http://www.istechforum.com/YaBB.pl?num=1142821960

Message started by wontonsnowy on 03/19/06 at 18:32:40

Title: STANDARD COST OF GOODS SOLD
Post by wontonsnowy on 03/19/06 at 18:32:40

IS THERE ANY WAY TO GO BACK AND ASSIGN A STANDARD COST ON AN ITEM AND HAVE IT SHOW UP AGAINST A PRIOR POSTED INVOICE. WE FOUND THAT THERE WAS A WHOLE GROUP OF ITEMS THAT DID NOT HAVE THE STANDARD COST ASSIGNED BUT HAVE SINCE BEEN SOLD. I WOULD LIKE TO USE THE INVENTORY ANALYSIS REPORTS FOR THESE ITEMS BUT I CANT GET THE COST TO APPEAR.

Title: Re: STANDARD COST OF GOODS SOLD
Post by lmk223a on 03/28/06 at 06:45:12

If the item did not have a standard cost assigned when shipped, at what value did the item go into inventory ?? At $0???

When an item ships, the entry is to relieve inventory at a value (whether standard cost, average cost, LIFO or FIFO) and this SAME VALUE becomes the COGS.

If you adjust the COGS after the fact, you need to adjust inventory and this will create an inventory variation unless you also correct the original entry to finished production or if purchased, the receipt of the material.

Title: Re: STANDARD COST OF GOODS SOLD
Post by David Waldmann on 03/29/06 at 04:35:32

If the invoice has not been paid, you can void it, adjust the cost in IN-K and re-print and post the invoice.