Revaluation journal and calculate inventory value

Help me please. I’ve been searching through internet for days, yet i still can’t a solution for my problems.

Here is my problem:

Item A

have 10 Qty on 28 Feb 2014 and average costs of 10$ and

have 11 Qty on 27 Mar 2014 and average costs of 10$.

My costing method are average.

I want to revaluate cost of my Qty as of 28 Feb to 0$.

My question:

  1. Can i use item journals ? I’ve tried this before by negative 10 Qty and positive 10 with unit cost 0. i post it backdated as 28Feb and post it. After i run ACIE instead of becoming 0 it became 5$. Is there something wrong with my step here ?

  2. Can i use revaluation journal to backdate revaluation ?

  3. I’ve tried to calculate inventory value and put 28Feb as posting date. When i klik ok. Qty that appear on the line is not 10 but 23. How does calculate inventory work ? I want to know where 23 come from.

Could someone please help me… ? :slight_smile:

Please use Revaluation Journal while calculating for all locations. Before that you should run Adjust Cost Item Entries report so that all the quantities appears in Revaluation Journal. Please let us know if you are using bins etc.

I’ve tried to use it, yet i still question how they work. Especially when qty appeared different after calculate inventory value. I’m not using bins.