Antedating
When material issues or end product deliveries are recorded in LN, you can use antedating to post the transactions on a date in the past. This allows you to post the transactions more accurately, in case you update LN some time after the actual manufacturing processes were carried out.
If antedating is not used, all financial transactions are posted based on LN date and thus on today's cost structure. If antedating is allowed, it becomes possible that the current cost is not taken but another cost structure is used from history.
If the cost had been recalculated after the entered completion date and standard cost is applied as valuation method of the end product, the end product inventory is automatically reevaluated.
1
You use Standard Cost as the valuation method of an item. The standard cost of an item is $12 on January 1st. On January 2nd, you recalculate the valuation price, and the standard cost is set at $13.
You report a production order for 1 item completed on January 3rd and the production results are posted.
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Without antedating
If you enter January 3rd as completion date, the standard cost is $13. The WIP decreases by $13 and the value of the inventory increases by the same amount.
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With antedating
If you enter January 1st as completion date, the standard cost is $12. The WIP decreases by $12 and the value of the inventory increases by $13. The difference ($1) is posted as revaluation.