Period End Valuation (IC234)

Run Period End Valuation (IC234) to valuate inventory as of a specific date. This report is identical to the Inventory Valuation Report, except you can run this program for a previous date to valuate inventory for a specific time. This program lets you balance inventory valuation totals with inventory general ledger account totals calculated when you ran IC130 (General Ledger Interface).

Processing Effect

This program values stock-on-hand quantities based on the costing method defined for the company in IC01.1 (Company). You can run IC233 (Inventory Valuation) to valuate inventory based on a specified costing method (Standard, Average, LIFO, or FIFO). Refer to the Inventory Control User Guide for costing method calculation formulas.

You can select the inventory valued on this report by location, report group, and general ledger category. Otherwise, inventory valuation is based on all locations and general ledger categories. This report lists general ledger category, location, and company summarized totals. You can optionally include item detail and exclude items with zero stock-on-hand quantities. Item detail includes the item number, description, unit of measure, unit cost, intransit quantities, stock-on-hand quantity, and stock-on-hand value.

If you use the Update Date and Time option, IC234 reports the valuation as it is actually updated to inventory.

If your general ledger posting date does not equal the update date, you may not be able to balance to general ledger.

If you use the Transaction Date and Time option, IC234 reports the valuation as if processed by transaction date. The quantities will be correct. However, if your company is an average or standard cost company, your costs may not be correct. IC234 captures your costs based on the update date, but the general ledger valuation is based on the general ledger date. If the transaction date does not equal the general ledger date, you still might not balance to general ledger.