We wish to maintain the cost of good sold in Item Master. This price will be changed twice a year. Can you please suggest a field in Item master that could be used for this purpose? There is no data processing or calculation expected on this field. It can be a text field to store the cost of good sold (actual).
Cost Of Goods Sold(COGS) is the Inventory Price of the Item. Which will be taken based on the Type of costing method you are adopting.
Are you asking for COGS or Sales Price?
Use - Base Cost Price in Item Master for this if you are using standard costing as your inventory model.
For what purpose are you doing this? Standard costing through the costing version would be normal processing standard costing, any other you could use the base cost and not update the cost in the item card automatically.