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- Create a Purchase PILE to add the units back into inventory using the actual Unit Cost.
- Leave the Original PILE field blank.
- Leave the Type set to Purchase.
- Enter the number of units to add back into inventory in the Quantity.
- Enter the actual unit cost in the Unit Cost field.
- Create a Scheduled Transactions record to adjust the COGS and Inventory accounts if any units have shipped between the time that the units were originally added to inventory and when the actual cost was known.
- Click the Product Inventory Ledger Entry Transactions tab on the new - Purchase PILE you created in the previous step.
- Open a new Product Inventory Ledger Entry Transactions record and click the Scheduled Transactions link to open a new Scheduled Transactions record.
- Enter the date and description, and select Other as the Type.
- Create counterbalancing GL entries to debit or credit the COGS and Inventory accounts used by this product in the amount of the adjustment. Contact a member of your accounting department if you need assistance and to determine the amount of the adjustment.
- Need more here. Is this necessary? When? How? Is this even reasonable given that the average cost is a moving target?See figure for a sample Scheduled Transactions record.
- Save and close the Scheduled Transactions record when finished. Also, confirm that it is properly linked to the Purchase PILE for record keeping purposes.
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