Inventory Revaluation - Weighted Average

Hi,

This can be done using the ‘Modify Level Cost Details’ functionality on the Inventory Part.

The dialog box will display the current (‘Old Cost’) Weighted Average value for the items in stock. 

You can enter a ‘New Cost’ value and then press OK to update it

The Inventory Revaluation Transaction can be seen in the Inventory Transactions History screen.

I hope that this helps.

Hi Richard,

Thank you for this. Isn’t this function available in Cloud?

Thanks,

Sandy

Richard,

Thank you very much. I looked at a part with an incorrect inventory valuation method. BTW I didn’t see a revaluation possibility for the FIFO part. Does that mean FIFO parts should not be revalued?

Thanks a lot for your help.

Hi Sandy,

My understanding is that the quantities and costs associated with FIFO parts are stored in a FIFO ‘pipe’ and the system will use these values for any transactions which take place.

This can be seen in the FIFO/LIFO Analysis screen

There doesn’t appear to be any option to revalue these items. 

Perhaps other IFS Community members have some experiences to share on this topic?

Best Regards,

Richard.

Thanks in advance for the options you have provided here. is there a possibility to do this re valuation for a multiple no of parts? Using a percentage?