I am encounter two questions about inventory revlauation.
First, I want to use the revaluation journal to update the item standard cost as at 30 june 2010. Will it pick up the stock onhand as at 30 june 2010 if I set the posting date as at 30 june? Or it will pick up the stock on hand as at today? Well, I want it to be 30 June 2010. If it picks up the stock on hand as at today, are there any way to set the system to pick up the stock quantity as at 30 june?
Second, since now it is late July, if I run the revaluation journal as I said above, will it atomatically update the posted inventory purchased or sold using the new standard cost? So, all transactions will be based on the new standard cost since 30 june. If not, is there an easy way to fix it?