TanyaBennett
4 months agoExperienced Cover User
Inventory Adjustment
Hi, We have made an inventory adjustment to reduce down items that have become obsolete or damaged. We went through the inventory adjustment & did a minus for the full amount, with the correct cost ( $11.89 per unit ) the total adjustment qty was 259. Resulting in cost amount to write off is $3,079. However, the journal transaction did the 259 x $3,079, resulting in a $727,034 adjustment, effecting the profit & loss. Can you please advise why it would do this & also how I correct it. Screen shots attached. Thanks