Inventory Valuation Methods (whina1100m000)
Use this session to define default inventory-valuation methods for the item and warehouse combinations specified in the Item Data by Warehouse (whwmd2110s000) session.
The valuation method priorities defined for a combination of item valuation group and warehouse valuation group determine the default valuation method for the item and warehouse combination that is specified in the Item Data by Warehouse (whwmd2110s000) session.
Field Information
- Warehouse Valuation Group
- Item Valuation Group
- Valuation by Attribute Set
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If this check box is selected,inventory valuation is performed by attribute set. For details, see Default inventory valuation methods for item, warehouse, and attribute set combinations.
- Inventory Valuation Method Priority 1
-
The inventory-valuation method with priority 1.
Allowed values
- Standard Cost
-
The standard cost, including any surcharges or discounts. Item standard costs are calculated in the Calculate Standard Cost (ticpr2210m000) session.
The standard cost valuation method is allowed for project pegged items and non-project pegged items.
Unavailable if inventory valuation is performed by attribute set.
For more information, refer to
- Cost Calculation Code
- Standard Cost
- Default inventory valuation methods for item, warehouse, and attribute set combinations
- Moving Average Unit Cost (MAUC)
-
During receipt, goods are valued against the receipt price. For further information, see Moving Average Unit Cost (MAUC).
If Inventory Valuation Method is set to Moving Average Unit Cost (MAUC), LN allows you to select the Valuation by Warehouse Valuation Group check box in the Item Data by Warehouse (whwmd2510m000) session; and the inventory valuation is based on the MAUC by Warehouse Valuation Group valuation method.
- First In First Out (FIFO)
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When issued, goods are valued against the oldest inventory value. During receipt, the inventory value and the receipt quantity is stored in the Inventory Receipt Transactions (whina1512m000) session .The value of these receipts will be consumed during each issue in FIFO order.
Receipt 1 100 pcs of $5 each Receipt 2 100 pcs of $6 each Inventory value 100 x $5 + 100 x $6 = $1100 Issue 1 150 pcs consisting of 100 x $5 + 50 x $6 = $800 Remaining Value 50 pcs of $6 each = $300 - Last In First Out (LIFO)
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When issued, goods are valued against the most recent inventory value. During receipt, the inventory value and the receipt quantity is stored in the Inventory Receipt Transactions (whina1512m000) session. The value of these receipts will be consumed during each issue in LIFO order.
Receipt 1 100 pcs of $5 each Receipt 2 100 pcs of $6 each Inventory value 100 x $5 + 100 x $6 = $1100 Issue 1 150 pcs consisting of 100 x $6 + 50 x $5 = $850 Remaining Value 50 pcs of $5 each = $250 - Lot Price (Lot)
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The inventory is valued against the lot price defined for the specific item during receipt or issue. The lot price is filled with the purchase order price. For manufactured lot items, the lot price is filled with the standard cost value. For more information, refer to Lot pricing.
Lot price 6.50 Receipt 1 100 pcs of $6.5 each Receipt 2 100 pcs of $6.5 each Inventory value 200 x $6.5 = $1300 Issue 1 150 pcs of $6.5 each = $975 Remaining Value 50 pcs of $6.5 each = $325 Unavailable if inventory valuation is performed by attribute set. For more information, refer to Default inventory valuation methods for item, warehouse, and attribute set combinations
- Serial Price (Serial)
-
The inventory is valued against the lot price defined for the specific item during receipt or issue. The serial price is filled with the purchase order price. For manufactured serialized items, the serial price is filled with the standard cost value.
Serial price 6.50 Receipt 1 100 pcs of $6.5 each Receipt 2 100 pcs of $6.5 each Inventory value 200 x $6.5 = $1300 Issue 1 150 pcs of $6.5 each = $975 Remaining Value 50 pcs of $6.5 each = $325 Unavailable if inventory valuation is performed by attribute set. For more information, refer to Default inventory valuation methods for item, warehouse, and attribute set combinations.
- Tag Price (Tag)
- The inventory is valued against the inventory tag price defined for the specific item during receipt or issue. The inventory tag price is filled with the purchase order price.
- Valuation by Warehouse Valuation Group Priority 1
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This check box is available if inventory valuation method Mov. Aver. Unit Cost (MAUC) is selected in the Inventory Valuation Method Priority 1 field.
If this check box is selected, the MAUC is calculated for all warehouses of the selected warehouse valuation group.
If this check box is cleared, the MAUC is only calculated for the warehouse in which the item is stored.
- Inventory Valuation Method Priority 2
-
The inventory-valuation method with priority 2.
Allowed values
- Standard Cost
-
The standard cost, including any surcharges or discounts. Item standard costs are calculated in the Calculate Standard Cost (ticpr2210m000) session.
The standard cost valuation method is allowed for project pegged items and non-project pegged items.
Unavailable if inventory valuation is performed by attribute set.
For more information, refer to
- Cost Calculation Code
- Standard Cost
- Default inventory valuation methods for item, warehouse, and attribute set combinations
- Moving Average Unit Cost (MAUC)
-
During receipt, goods are valued against the receipt price. For further information, see Moving Average Unit Cost (MAUC).
If Inventory Valuation Method is set to Moving Average Unit Cost (MAUC), LN allows you to select the Valuation by Warehouse Valuation Group check box in the Item Data by Warehouse (whwmd2510m000) session; and the inventory valuation is based on the MAUC by Warehouse Valuation Group valuation method.
- First In First Out (FIFO)
-
When issued, goods are valued against the oldest inventory value. During receipt, the inventory value and the receipt quantity is stored in the Inventory Receipt Transactions (whina1512m000) session .The value of these receipts will be consumed during each issue in FIFO order.
Receipt 1 100 pcs of $5 each Receipt 2 100 pcs of $6 each Inventory value 100 x $5 + 100 x $6 = $1100 Issue 1 150 pcs consisting of 100 x $5 + 50 x $6 = $800 Remaining Value 50 pcs of $6 each = $300 - Last In First Out (LIFO)
-
When issued, goods are valued against the most recent inventory value. During receipt, the inventory value and the receipt quantity is stored in the Inventory Receipt Transactions (whina1512m000) session. The value of these receipts will be consumed during each issue in LIFO order.
Receipt 1 100 pcs of $5 each Receipt 2 100 pcs of $6 each Inventory value 100 x $5 + 100 x $6 = $1100 Issue 1 150 pcs consisting of 100 x $6 + 50 x $5 = $850 Remaining Value 50 pcs of $5 each = $250 - Lot Price (Lot)
-
The inventory is valued against the lot price defined for the specific item during receipt or issue. The lot price is filled with the purchase order price. For manufactured lot items, the lot price is filled with the standard cost value. For more information, refer to Lot pricing.
Lot price 6.50 Receipt 1 100 pcs of $6.5 each Receipt 2 100 pcs of $6.5 each Inventory value 200 x $6.5 = $1300 Issue 1 150 pcs of $6.5 each = $975 Remaining Value 50 pcs of $6.5 each = $325 Unavailable if inventory valuation is performed by attribute set. For more information, refer to Default inventory valuation methods for item, warehouse, and attribute set combinations
- Serial Price (Serial)
-
The inventory is valued against the lot price defined for the specific item during receipt or issue. The serial price is filled with the purchase order price. For manufactured serialized items, the serial price is filled with the standard cost value.
Serial price 6.50 Receipt 1 100 pcs of $6.5 each Receipt 2 100 pcs of $6.5 each Inventory value 200 x $6.5 = $1300 Issue 1 150 pcs of $6.5 each = $975 Remaining Value 50 pcs of $6.5 each = $325 Unavailable if inventory valuation is performed by attribute set. For more information, refer to Default inventory valuation methods for item, warehouse, and attribute set combinations.
- Tag Price (Tag)
- The inventory is valued against the inventory tag price defined for the specific item during receipt or issue. The inventory tag price is filled with the purchase order price.
- Valuation by Warehouse Valuation Group Priority 2
-
This check box is available if inventory valuation method Mov. Aver. Unit Cost (MAUC) is selected in the Inventory Valuation Method Priority 2 field.
If this check box is selected, the MAUC is calculated for all warehouses of the selected warehouse valuation group.
If this check box is cleared, the MAUC is only calculated for the warehouse in which the item is stored.
- Inventory Valuation Method Priority 3
-
The inventory-valuation method with priority 3.
Allowed values
- Standard Cost
-
The standard cost, including any surcharges or discounts. Item standard costs are calculated in the Calculate Standard Cost (ticpr2210m000) session.
The standard cost valuation method is allowed for project pegged items and non-project pegged items.
Unavailable if inventory valuation is performed by attribute set.
For more information, refer to
- Cost Calculation Code
- Standard Cost
- Default inventory valuation methods for item, warehouse, and attribute set combinations
- Moving Average Unit Cost (MAUC)
-
During receipt, goods are valued against the receipt price. For further information, see Moving Average Unit Cost (MAUC).
If Inventory Valuation Method is set to Moving Average Unit Cost (MAUC), LN allows you to select the Valuation by Warehouse Valuation Group check box in the Item Data by Warehouse (whwmd2510m000) session; and the inventory valuation is based on the MAUC by Warehouse Valuation Group valuation method.
- First In First Out (FIFO)
-
When issued, goods are valued against the oldest inventory value. During receipt, the inventory value and the receipt quantity is stored in the Inventory Receipt Transactions (whina1512m000) session .The value of these receipts will be consumed during each issue in FIFO order.
Receipt 1 100 pcs of $5 each Receipt 2 100 pcs of $6 each Inventory value 100 x $5 + 100 x $6 = $1100 Issue 1 150 pcs consisting of 100 x $5 + 50 x $6 = $800 Remaining Value 50 pcs of $6 each = $300 - Last In First Out (LIFO)
-
When issued, goods are valued against the most recent inventory value. During receipt, the inventory value and the receipt quantity is stored in the Inventory Receipt Transactions (whina1512m000) session. The value of these receipts will be consumed during each issue in LIFO order.
Receipt 1 100 pcs of $5 each Receipt 2 100 pcs of $6 each Inventory value 100 x $5 + 100 x $6 = $1100 Issue 1 150 pcs consisting of 100 x $6 + 50 x $5 = $850 Remaining Value 50 pcs of $5 each = $250 - Lot Price (Lot)
-
The inventory is valued against the lot price defined for the specific item during receipt or issue. The lot price is filled with the purchase order price. For manufactured lot items, the lot price is filled with the standard cost value. For more information, refer to Lot pricing.
Lot price 6.50 Receipt 1 100 pcs of $6.5 each Receipt 2 100 pcs of $6.5 each Inventory value 200 x $6.5 = $1300 Issue 1 150 pcs of $6.5 each = $975 Remaining Value 50 pcs of $6.5 each = $325 Unavailable if inventory valuation is performed by attribute set. For more information, refer to Default inventory valuation methods for item, warehouse, and attribute set combinations
- Serial Price (Serial)
-
The inventory is valued against the lot price defined for the specific item during receipt or issue. The serial price is filled with the purchase order price. For manufactured serialized items, the serial price is filled with the standard cost value.
Serial price 6.50 Receipt 1 100 pcs of $6.5 each Receipt 2 100 pcs of $6.5 each Inventory value 200 x $6.5 = $1300 Issue 1 150 pcs of $6.5 each = $975 Remaining Value 50 pcs of $6.5 each = $325 Unavailable if inventory valuation is performed by attribute set. For more information, refer to Default inventory valuation methods for item, warehouse, and attribute set combinations.
- Tag Price (Tag)
- The inventory is valued against the inventory tag price defined for the specific item during receipt or issue. The inventory tag price is filled with the purchase order price.
- Valuation by Warehouse Valuation Group Priority 3
-
This check box is available if inventory valuation method Mov. Aver. Unit Cost (MAUC) is selected in the Inventory Valuation Method Priority 3 field.
If this check box is selected, the MAUC is calculated for all warehouses of the selected warehouse valuation group.
If this check box is cleared, the MAUC is only calculated for the warehouse in which the item is stored.