Capturing Inventory Costs After Inventory Counts

When performing a full physical inventory count, capture the average cost, last cost, landed average cost, and landed cost for products at a branch as of the count date. By capturing these costs, you create the following four additional cost bases:

Frozen Average Cost
Frozen Last Cost
Frozen Landed Average Cost
Frozen Landed Cost

These cost bases provide benchmarks for running various reports, including the LIFO Inventory Valuation Report and the Gross Margin Return On Investment (GMROI) Reports.

Use the Capture Average Cost program to capture and create these cost bases. Run this program after printing count sheets or cards and before entering the inventory counts.

Note: When the Should Inventory Adjustment Update Avg/Last Cost control maintenance record is set to Y, inventory adjustments cause the system to recalculate the LAST-COST and AVG-COST global cost bases.

To capture the average cost and last cost after an inventory count:

From the Phys menu, select Capture Avg Cost to display the Average Cost Capture screen.
In the Br/Tr/All field, enter the branch or territory for which to capture the average cost and last cost for products.

Enter All to capture the average cost and last cost for products in all branches and territories.

In the Type field, press F10 and select a product group type for which to capture costs:

Type	Description
All	Captures average cost and last cost for all products in the inventory.
Changed	Captures average cost and last cost for all products whose average cost has changed since the last time the average cost and last cost were captured. You need to capture the average cost and last cost at least once in a prior period.
Line	Captures average cost and last cost for all products in a price line. The Average Cost Capture screen prompts for a single price line for which to capture costs. In the Price Line field, enter a price line.
Physical	Captures average cost and last cost for all products in the current count control file. The Average Cost Capture screen prompts for the ID of the count control file for which to capture costs. In the Control # field, enter the count control file ID.
Product	Captures average cost and last cost for a single product. The Average Cost Capture screen prompts for a single product for which to capture costs. In the Product field, enter the product.

Use the Begin hot key to run the program.

When complete, the Phantom Scheduler displays a confirmation message.

Press Esc to exit the screen.