Cost Method

Enter the code that affects how this inventory item will assign the cost of this item when removed from inventory. The system uses this code for tracking and posting Cost Ledger transactions for the item.

Select one of the following cost flow methods for valuing inventory:

  • Average
  • LIFO
  • FIFO
  • Specific
  • Standard

On the Item Costs form, the cost method for the item displays.

Note:  You can update all the Unit Cost fields if the item is using Actual (Average) costing.