FrontAccounting forum — GL on the sale of "Average Price/Standar Costs"

Re: GL on the sale of "Average Price/Standar Costs"

2011-04-01T23:12:21Z

Jujuk, I cannot reproduce this. I cannot find the value $320 anywhere in my listing.
I started with B $100, C $100 and D $20. That gives a total value of A $220.
The first production gives a value of $220, the second production gives a value of $220 and after delivering a GL of $220 credit.

So everything is right. There must be something else influensing this.

/Joe

Re: GL on the sale of "Average Price/Standar Costs"

2011-04-01T19:22:03Z

Details:

1. I do work orders for Goods A with Quantity 1 on date 03/01/2011
2. After I print "Inventory Valuation Report" of Goods A = Qty 1, Unit Cost $ 220, Value $ 220
3. I do more work orders for goods A with Qty 1 at date 03/15/2011
4. I Print again the "Inventory Valuation Report" of Goods A = Qty 2, Unit Cost $ 320, $ Value 640
5. I enter the GRN to Customer on the date 03/14/2011. Goods A with Qty 1.
6. I check in the "Journal Inquiry" on "Banking and General Ledger" menu with a choice of Delivery Note, View GL Trans, COGS Debit Inventory Credit account is $ 320.
7. It is correct or my lack of understanding of accounting.

Jujuk

Re: GL on the sale of "Average Price/Standar Costs"

2011-03-31T21:52:45Z

Hello Jujuk,

Please try to be a little more detailed when illustrating the case. We have worked hardly on the average material costing lately, together with Chaitanya from India. So I really hope this works now.

/Joe

GL on the sale of "Average Price/Standar Costs"

2011-03-31T18:25:20Z

Hello

I have the goods A Production, work order entry on the date 03/01/2011 with the result Unit Cost of Goods $220 and on the date 03/15/2011 with the result Unit Cost of Goods $360.
There GRN Sales of date 03/14/2011 have not yet been entered into the system, after I input and look into GL why transaction account "Inventory" of "COGS" is the latest price of $360.
I ask, it is wrong because it should be the old price $220 or I less understand about accounting.
/Happens also to goods from suppliers.

Thanks & Best Regard
Jujuk