Our costing method is Average and I would like to know how to adjust the average cost
I guess the first question would be why you wanted to adjust the average cost…If there were more information, I might be able to suggest a better solution. One way that will work in all cases is to remove all Items from Inventory and then put them back in again at a new cost. If you want to change the Average because one item has an incorrect cost, then you should be able to remove that item from inventory and put it back in with the correct cost. This may not be the nicest method, but it is one a User can do with out any coding.
Hey John, just go to Revaluation journals. Enter the item no, then go to the applies to field, and select the entry you want to change. Enter the new Cost for that line, and Post.