Overview:
PENTA Calculates inventory cost in one of two ways: Weighted Average and 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 standard cost for Products by Balance Sheet OU. System Option 182 determines if PENTA uses Standard Cost versus 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
- System Option 182:
Location:
- Inventory>Setup> Product Standard Cost
Video: