Inventory Assembly and Cost Averaging

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Inventory Assembly and Cost Averaging

by sandy schneiter
(seattle, WA )

We are a small manufacturer of espresso equipment. We use 2007 Premier Manf & Wholesale edition. I have created an inventory assembly, added all parts and the Cost of materials is $28.67. I put in a cost of $36.17 to include Labor to create this item. When I sell it, QB's has calculated an average cost of $29.15 for this item and that is what QB uses on our P&L.

I would like to have QB use my cost of $36.17 for our P&L. Can this be done?

Thanks,
Sandy

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Inventory Assembly and Cost Averaging

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Sep 27, 2011

Inventory Assembly and Cost Averaging
by: Anonymous

I too am having the same issues with build assemblies - it's increases our inventory and reduces our cost of goods. I too feel that this is incorrect. Please advise.

Thanks

Feb 18, 2011

Quickbooks-Inventory Assembly
by: George C

My earlier Question relates to Quickbooks Enterprise Accounting software. When I build Inventory Assembly in Quickbooks, The Inventory Finised goods is debited and the Cost of Goods Sold is credited. I feel this journal is not correct.Since we are shifting inventory from one asset account to another asset account ie Finished Goods account, the cost of goods sold account should not be affected.Only the Inventory account should be affected. Would appreciate a reply, showing how to correct this mistake.

Feb 18, 2011

Build Inventory Assembly and COGS Credit
by: George C

Whenever I build Inventory assembly the asset Finished goods inventory account is debited and Cost of Goods Sold is credited. I feel that this journal seems to me not correct. It should be Finished Inventory account debited and Raw Material Inventory account credited. I would like to know why the Cost Of Goods Sold is credited. How can I correct this entry. Would appreciate your reply.

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Inventory Assembly and Cost Averaging

Comments for Inventory Assembly and Cost Averaging

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Inventory Assembly and Cost Averaging