If you are working with inventory you know how difficult it can be to maintain a good average cost for your items. Purchase prices vary and depending on your costing method the cost of sold goods can be tough to determine. You also run into issues where the average cost changes (from data entry errors) so much that you have to investigate why. Costing audits are time consuming and tedious, but Dynamics NAV has a tool that gives you a great overview what happened to your average cost.
Here is a snapshot of the price and costing information for an inventory item inside Dynamics NAV:
When we click the lookup button (in yellow) next to the cost price Dynamics NAV will show us a detailed overview with drill down capabilities.
Notice how the prices are fluctuating a lot in this overview. Some items were entered with a purchase price of more than $200 and the cost of this item is around $20-$30. From each line it’s possible to go straight to the document that created this cost and we can also drill further into the inventory ledger to investigate further.
The Average Cost Calculation Overview in Dynamics NAV can save you a lot of time when you run into costing issues from wrongly entered receipts, invoices, transfers, etc. You get a quick overview of any issues and can drill down further to get additional details that will help you solve your costing issues.
If you are interested in a demonstration of item costing in Dynamics NAV please don't hesitate to contact us.