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Inventory costing method used?

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m1court View Drop Down
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Joined: 05 Feb 2013
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    Posted: 12 Feb 2013 at 2:55am
When items are issued to production, does the system use moving average cost or specific identification cost to assign cost to the assembly work order? My current manual costing system uses moving average and I realized this may be one of the reasons my product costs are not agreeing to the ACS work order costing result.
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BillD View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BillD Quote  Post ReplyReply Direct Link To This Post Posted: 14 Feb 2013 at 7:06am
This is true. This is not a moving average. It uses actual prices. The work order job cost comes from the work order line item Unit Cost. This field is populated from the Item Master Unit Cost and can be changed by user at will. However, when you consume components, the cost for the assembled product comes from the actual costs of the specific components used. You can use FIFO picking scheme to make it easy to consume the oldest components if you want to. But the cost of finished product (to you) is always calculated based on the component original prices (not today prices).
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