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Product Standard Cost

Owned by Nathan F. Welchlin [X] (Unlicensed)
Last updated: 06 21, 2022 by Claire Aleman

Overview:

PENTA Calculates inventory cost in one of two ways: Weighted Average or Standard Cost. Weighted Average cost is calculated automatically, by warehouse and location, based on transactions to and from that warehouse. Conversely, Standard Cost is a value set by end users. Standard Cost is set in the "Product Standard Cost" screen where users can set cost for Products by Balance Sheet OU. System Option 182 determines whether PENTA uses Standard Cost or Weighted Average.

Benefits:

  • Provides the ability to determine at what cost  a unit will get charged to Jobs/Work Orders.
  • Utilize to track Inventory profitability at a Product by Product level.

Roles:

  • Inventory Manager
  • Inventory Clerk

Additional Content

  • 182 Inventory Product Unit Cost Basis: The value of this System Option determines what per unit cost inventory should exit the warehouse at.

Location:

  • Inventory>Setup> Product Standard Cost

Video:

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