how current value is calculated
Hi, just wondering if someone can help me with this. How come the current value is not $6114.96 rather than $6198.4? I am aware of using average method to calcuate COGS, How the current value $6198.4...
Forum Discussion
Hi LL2113
The current value is based on the purchases of the item in past transactions (or inventory adjustments).
The way the Items register works is that it works from downwards to up. The current value would be the value as of the last transaction dated 20/04/2022, current value $0. You can also try running the report to the 31/12/9998 in case there may be future dated transactions. If you are expecting the current value to be $6114.96 I'd start by running the Company Data Auditor and checking for exceptions in Compare item values with inventory account. This support note, Receivables, Payables or Inventory out of balance, has possible causes for an out of balance and how to fix them.
Please let me know if you need further help.