Standard Cost Valuation (IC125)

Run Standard Cost Valuation (IC125) print a report that valuates current inventory stock-on-hand quantities based on standard and future standard costs defined for items in IC12.1 (Item Location). You can select the items printed on this report by location, report group, and/or inventory class. This form also provides the following update options:

• 1) Roll future standard costs into current standard cost fields.
• 2) Update the general ledger file with variance transactions. This form creates cost variance transactions for general ledger. The cost variance represents the difference between extended current standard costs and extended future standard costs defined for Item Location records in IC12.1 (Item Location).

This form creates general ledger transactions. If you set the Standard Cost Update flag to Yes, you must enter the general ledger posting date. You can post variance transactions to any general ledger period if two conditions are met:

• The date is within 35 days of the inventory period end date
• The general ledger period is open.