Modifying the weighted average or actual lot cost information

This page allows you to calculate the stock value based on the average and actual cost. Tell me more

Select the “Edit Weighted Avg / Actual Lot Cost Detail” link at the bottom of the “Edit Opening Balance” page.

The “Edit Weighted Avg / Actual Lot Cost Information” page appears.

The system displays the following in the “Opening Balance Identification Details” group box:

Opening Balance #	The number identifying the opening balance document.
Status	The status of the document. The system displays “Draft” or “Fresh”.
Warehouse #	The number identifying the warehouse in which the parts are received or stored.
Warehouse Description	The textual description of the warehouse.
Base Currency	The currency of the log-in organization unit.

The system displays the following in the “Rate Information” multiline:

Part #	The number identifying the part.
Manufacturer Lot #	The lot number of the part issued by the manufacturer.
Stock UOM	The unit of measurement in which the part is stocked in the warehouse.
Total Quantity	The total quantity of the part.

Enter the following:

Rate	The rate per quantity of the part (Decimal). Rate is calculated as “Value/ Quantity”.
Value	The value of the part (Decimal). Value is calculated as “Rate x Quantity”.
Note: The system ignores the “Value” entered, if both “Rate” and “Value” are entered for a lot-controlled part with valuation method as “Actual Cost”. The system ensures that atleast one part in the Opening Balance document has “Expensing Policy” other than “On Receipt” in the interacting “Part Administration” business component.
Entry Type	Use the drop-down list box to select the entry type of the rate, which could be “Single” or “Multiple”.
	Single – indicates that the rate can be calculated using single costing method.
	Multiple - indicates that the rate of the part can be specified by splitting the quantity and indicating the sequence in which it was received into the warehouse in the “Edit Rate Information” page as the costing method is Weighted Average Cost.
Ref Document #	The reference document for the cost information of the opening balance (Alphanumeric, 40).

The system displays the following in the “Rate Information” multiline:

Valuation Method	The valuation method of the part, which could be “Weighted Average Cost” or “Actual Cost”.
Stock Status	The stock status of the part.

Note: The system retrieves only those parts with internal stock status.

Note: Ensure that atleast one row is entered in the multiline.

Click the “Edit Value” pushbutton, to store the values.

Check the box in the “Select” column of the multiline, to mark a row for modification or deletion of the average or actual cost information of the part.

Click the Delete icon in the tool bar above the multiline, to delete the marked row containing the average or actual cost of the part.

To proceed, carry out the following

Select the “Edit Rate Information” link at the bottom of the page, to modify the LIFO, FIFO and Weighted Average cost of the Part.

Modifying the weighted average or actual lot cost information – An overview

When a part is issued, information such as the part number, quantity, part status, date of issue, warehouse, location and value are passed to stock maintenance. Based on the valuation method for the part specified in “Part Administration” business component, the stock value is calculated.

This page allows you to calculate the stock value based on the average and actual cost. Weighted average rate indicates that the issue rate is calculated as the average of receipt values divided by the receipt quantity. Ensure that either the rate or the value is entered for the part quantity, when the calculation is based on the average cost. Actual cost indicates that the receipts and issues of the stock are always made at the actual cost. Ensure that the part selected has set its valuation method to “Weighted Average” or “Actual Cost” as defined in the Maintain Planning Information” activity of the “Part Administration” business component.

The actual cost can be calculated only for the lot controlled parts.

Consider this scenario:

Rate (In Rs.)	Quantity (In Nos.)	Value (In Rs.)
3	10	30

Case 1

If “Rate” is not available, to calculate the Rate of the stock, divide “Value” by “Quantity” as given below:

Rate = 30/10 = 3

Rate = 3

Case 2

If “Value” is not available, to calculate the value of the stock, multiply “Rate” by “Quantity”, as given below:

Value = 5 * 10 = 50

Value = 50

What you can do in this page

Specify the “Entry Type” of the rate

In the “Rate Information” multiline,

Set the rate type to “Single” in the “Entry Type” field, to specify the quantity for a Weighted Average costing part in a single entry.
Set the rate type to “Multiple” in the “Entry Type” field, to split the quantity specified in the Edit Weighted Average / Actual Lot Cost Details in the “Edit Rate Information” page.