The inventory valuation report is used to determine the total value in stock for each item. This report can be generated for each location separately or together, with one line per location.
If the "Weighted Average" costing method is used, the cost that displays on the report is taken from the Current Cost (Average Cost) field on the Inventory window. The report will multiply the current cost by the quantity to provide a total value.
If FIFO (First In First Out) costing method is used, the value in the Current Cost field on the date it is last received cost (PO Receiving or IC Receiving)
NOTE: Since the valuation amount for an item could be made up of many receiving's at different costs, the Quantity multiplied by Current Cost will not always equal the extended valuation amount, when using FIFO.
The Inventory Valuation report appears as shown in the following screen:
Summary: is the standard valuation report
Summary Back Dated: This option will display the valuation as of a specific date. This report option cannot be used with the "Show Lot/Serial Number" option.
Summary by Aging Period: Will age inventory with custom aging reports. This allows a user to see how old specific inventory is. This report type is only available if the FIFO costing method is used. This report option, also, cannot be used with the "Show Lot/Serial Number" option. An example of this report type is shown in the following screen:
Summary Lot/Serials: Is available only when Lot/Serial Control is enabled. This report version will show a list of items that are due to expire as of a specific cutoff date. This version can be used to identify goods that are set to expire so they can either be removed or proactively sold. Only Lot/Serial controlled items can appear in this report version and it can be sorted either by Item or Expiry date.
- Items: All Items, Item No (number) and enter a range, Items for Vendor and enter a vendor code, or Items with Analysis Code and enter a code
- Locations: All Locations or Location Range and enter a range
- Sorting Options: Sort by Item No, Item Name, Vendor, Total Value, Analysis Code, or G/L Account (Inventory Acc No from Inventory Items window). The report can also be sorted in Ascending or Descending order. Using the "G/L Account" option can be very helpful when reconciling to the General Ledger if multiple inventory accounts are used - Finished Goods and Raw Materials, for example.
Other Report Options
- Show Vendor Information displays the primary Vendor Code and part number information on the report. If this is selected, the report should be printed to a landscape page setup.
- Show Lot/Serial Numbers is only available if the Lot/Serial Control Plug-in is enabled. When selected the lot/serial number breakdown for each inventory item will be displayed.