Calculate and Actualize Standard Cost and Revalue Inventory (ticpr2225m000)

Field Information

Item

item

Effective Date

You can specify the effective date of the valuation price or standard cost, which can be the current date or a date in the past.

If the Backdate Valuation Price Allowed check box in the Standard Cost Calculation Parameters (ticpr0100m000) session is selected, you can specify for which date the valuation price or standard cost is calculated or actualized.

Possible values

• Current Date

  The date for which the valuation price is calculated or actualized is the current date.

• Last Date of Previous Period

  The date for which the valuation price is calculated and actualized is the last date of the previous period.

• Specific Date

  The date for which the valuation price is calculated and actualized is a date in the past, which you can enter in the Specific Date field.

Note: If you select the Last Date of Previous Period option, you can also select the Reverse to original inventory value at start of current period check box. For more information, refer to Lower of cost or market value

Specific date

If you click Specific Date, you can enter a date in the past in this field.

Reverse to original inventory value at start of current period

Using lower cost or market value (LCMV) to value inventory can result in an inventory value that differs from the inventory value that is calculated based on the original purchase prices. If the effective date is the last day of the previous financial period (the Last Date of Previous Period option is selected), you can use this check box to determine whether the inventory value is based on LCMV or on the original purchase prices at the start of the current financial period:

If this check box is selected, LN uses the original inventory value when starting the current financial period.

If this check box is cleared, LN uses the inventory value based on LCMV when starting the current financial period.

Note: You can only select or clear this check box if the Effective Date field is Last Date of Previous Period.

Delete Standard Cost History Data

If this check box is selected, standard cost history data is removed when the standard cost data is actualized. Which standard cost history data is removed depends on the value of the Number of Years to Retain Standard Cost History field in the Standard Cost Calculation Parameters (ticpr0100m000) session.

For more information, refer to Archive/Delete Cost History (ticpr2230m000).

Performance aspects

The setting of this field could affect system performance and database growth. For more information, refer to Remove item standard costing data.