HangedUpOnMe
3 years agoExperienced Cover User
Average cost is wrong
I noticed MYOB giving me an incorrect average cost for an item. The item had a recent shipment of 854pcs at $19.97 There are now only 754pcs left in stock, but the average price is showing $1...
- 3 years ago
Hi HangedUpOnMe , After the purchase of 854 items, there were 2613 items in stock at a total cost of $40800.88, or $15.61 each. Subsequent sales would have used that as the cost of sale, so your latest average cost figure is consistent with that. AccountRight does not apply FIFO costing.