Topic Options
#47452 - 10/01/15 01:42 PM IC Costing Methods
Bill L. Offline
Adagio Guru

Registered: 02/10/09
Posts: 139
Loc: New Brunswick, canada
Wondering if it possible to use Most Recent Cost as costing method. Presently using Moving Average. Most Recent Cost does not seem to be available.

Thanks

Top
#47455 - 10/01/15 06:01 PM Re: IC Costing Methods [Re: Bill L.]
Steve Schwartz Offline
Adagio God

Registered: 03/10/02
Posts: 4505
Loc: Wynnewood, PA
Hi Bill

Most Recent Cost is not available, and it couldn't be.

Say, for example, you buy one part at $10 and then a day later the same part at $12. The total value is $22. The most recent cost is $12. What if you sold them both at the same time. If you used MRC as the costing method, the cost would be $24, which is more than the total value.

Steve

Top
#47456 - 10/01/15 08:32 PM Re: IC Costing Methods [Re: Bill L.]
Retired_Guy Offline
Adagio Master

Registered: 03/16/99
Posts: 10504
Loc: Canada
Hi Bill,

LIFO is as close as you can get. Check with CRA about changing costing methods.
_________________________
Andrew Bates

Top


Moderator:  Christa_Meissner 
Who's Online
0 registered (), 98 Guests and 4 Spiders online.
Key: Admin, Global Mod, Mod
Forum Stats
1865 Members
5 Forums
14446 Topics
70591 Posts

Max Online: 432 @ 01/20/25 10:17 PM
April
Su M Tu W Th F Sa
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30