Inventory Valuation Report

 

Function

Use this task to create a report showing the value of on hand inventory in the warehouse(s). The value may be based on average, standard, replacement, or landed cost methods; the default is the method selected in the system parameters.

 

=> To access this task...

Select Inventory Valuation Report from the Period End Processing menu.

 

Inventory Valuation Report menu

Inventory Valuation Report

 

About the Fields

 

In the Costing Method dropdown...

  • Select Average (A) to generate a report using an average method of costing.

  • Select Standard (S) to generate a report using a standard method of costing.

  • Select Replacement (R) to generate a report using a replacement method of costing.

  • Select Landed (L) from the dropdown list to generate a report using a landed method of costing.

In the Detail Level dropdown...

  • Select Totals By Product Type (P) to generate a report with totals by product type.

  • Select Summary By Item (S) to generate a summarized report by item.

  • Select Detail By Item (D) to generate a detailed report by item.

The Inventory Valuation Report displays in six different formats, depending on the selection made in this field. There is one format for a report by product type, one format for a summarized report, and up to four formats for a detailed report. A detail report for inventory with no lot/serial or LIFO/FIFO stock displays a report very similar to the summarized report. However, additional formats are used if both lot/serial and LIFO/FIFO are used, lot/serial and no LIFO/FIFO, or LIFO/FIFO and no lot/serial. If the LIFO/FIFO flag in Inventory Parameters is turned on (either L or F), OR the Detail Level selected when running the report is P (Totals By Product Type), you won’t be able to change the Beginning Balance or Quantity On Hand. It defaults to Beginning Balance unless you’re using LIFO/FIFO, and then it’s Quantity On Hand.

 

In the Beginning/Ending Warehouse field...

  • Enter the code of the first/last warehouse to include on the report.

  • Press [Tab] to select the first/last warehouse number record.

  • Click Click to select from a list of warehouse codes.

In the Beginning/Ending Product Type field...

  • Enter the code of the first/last product to include on the report.

  • Press [Tab] to select the first/last product type record.

  • Click Click to select from a list of product types.

In the Beginning/Ending Item ID field...

  • Enter the number of the first/last item to include on the report.

  • Press [Tab] to select the first/last item number record.

  • Click Click to select from a list of item numbers.

In the Item Type field...

  • Enter the item type to include on the report.

  • Press [Tab] to select all item types.

  • Click Click to select from a list of item types.

Include Zero Balance Items checkbox...

  • Mark the box to include items with a zero balance on the report.

  • Unmark the box to ignore such items.

Page Break By Product Type checkbox...

  • Mark the box to create the report with page breaks between each product type.

  • Unmark the box to create the report without product type page breaks.

In the Ending Balance Or Qty On Hand dropdown...

  • Select Ending Balance (B) to calculate total value using the ending balance.

  • Select Qty On Hand (Q) to calculate total value using the quantity on hand.

When done making selections...

  • Click Run Process button to create the Inventory Valuation Report.

  • Click to return to the Period End Processing menu.

  • Click Clear Form button to clear the form and re-enter options.

Inventory Valuation Report output

Sample Inventory Valuation Report

 

See Output Options.

 

After output selections are made, the system creates a GL Account Totals report.

 

GL Inventory Valuation Report output

Sample GL Inventory Valuation Report

See Output Options.

 

The report uses the current period and year from the Parameter Maintenance task - System Parameters option. If LIFO/FIFO costing is enabled and an item is not lotted/serialized, the ending balance column on the report is blank. And an item will not appear on the report if it is lotted/serialized and the quantity on hand is zero.

 

In a manufacturing environment (i.e., when there is a Bill of Material cost roll-up process), create the Inventory Valuation Report to determine the general ledger postings that are needed after cost changes are made for components and rolled up into finished goods.

The general ledger postings are determined as follows:

  1. Create an Inventory Valuation Report.

  2. Update the Cost Change Register(s).

  3. Perform the Bill of Materials cost roll-ups (Bill of Materials - Inventory Costing ) to change the costs of the finished goods.

  4. Create another Inventory Valuation Report.

The differences may be used between the two Inventory Valuation Reports to determine the general ledger postings that are required to adjust the Inventory account(s) and the Purchase Cost Variance or Cost of Sales account(s).



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