FIFO Item Cost Price

Hi,

A FIFO item is loaded via a stock adjustment journal for the first time, and a cost price is included on the journal. When the journal is posted, I open the on-hand stock form for the item, and can see the cost price is populated. If I check the Manage Costs fast tab however, I cannot see the cost price.

Should the cost price be displayed here?

Thanks in advance for any help you can provide!

It should be if the latest cost price is ticked. Pretty sure this is true for a stock adjustment journal

Hi AdamRoue,

Thank you for your reply. I ticked latest cost price, and can see price has populated in the manage costs section.

If I purchase that item now (at a price different to cost price), it is updating the cost price to be the same as the purchase price. Is this expected? I don’t want the cost price to be overwritten by the new purchase price.

Thanks

Yes as expected, the manage costs will start to run at a calculated average and the actual cost is processed at usage and running of the inventory close.

Okay, thanks a lot for your help.