No Negative with Costing Method Average
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Modified on: Mon, Dec 12, 2016 at 3:02 PM
Issue |
No Negative with Costing Method Average
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Solution |
Why you shouldn't ask and allow the client to go in Negative Qty if the costing method is average. Explanation is attached hereby see the calculation as it makes sense for us and NAV but not to the clients.
As NAV average costs application method is FIFO and it is calculated on the basis of Valuation Date. At every exit (i.e. outbound entry) the COGS is Weighted Average of qty received on or before the valuation date of the outbound entry.
Valuation Date |
Item No. |
Unit Cost |
Cost is Adjusted |
Entry Type |
Quantity |
Cost Amount (Expected) |
Cost Amount (Actual) |
Running Cost |
Running Quantity |
Running Average |
23/01/2008 |
43577 |
11 |
No |
Sale |
-20 |
0 |
-220 |
-220 |
-20 |
11 |
31/01/2008 |
43577 |
11 |
No |
Sale |
-50 |
0 |
-550 |
-770 |
-70 |
11 |
18/02/2008 |
43577 |
13 |
No |
Purchase |
100 |
0 |
1,300.00 |
530 |
30 |
17.66666667 |
29/02/2008 |
43577 |
12.68 |
No |
Sale |
-25 |
0 |
-317.02 |
212.98 |
5 |
42.596 |
07/03/2008 |
43577 |
12.68 |
No |
Sale |
-10 |
0 |
-126.81 |
86.17 |
-5 |
-17.234 |
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