Costing Methods

Inventory Control provides eight costing methods for valuing inventory and determining the cost of goods sold.

The costing method used for an item is determined by the account set specified in the I/C item record. When you set up an account set, you specify a costing method to use for valuing all items that are assigned to that account set.

Inventory Control values your inventory and determines the cost of goods sold by location. If you store the same inventory item at more than one location, the program tracks and costs the item at each location (rather than costing all the items together).