Purchased Item Record: Item Cost Tab

1

Location Selector

Select a Location to view the Cost Summary for that Location

2

Inventory Cost

The inventory cost for the selected Location along with Inventory details. This will be a weighted average of any transaction costs based on the cost method. This includes the following information about the item:

• Usage per 1000 - The inventory usage rate per $1000 of sales 

• Theo on Hand - The theoretical amount of the item on hand in inventory based on the Usage per 1000

3

Cost Method

The cost update method. This shows the method of which the item cost is updated and the transactions that are being considered. Only transactions that occurred within the last year are factored into the cost update. If any of the transactions listed are older than a year, the transaction will not be factored into the cost of the item.

Weighted Avg (Last 3 Days or Last Count)

When a 'Weighted Avg.' is selected, this section will show the last transactions based on the selection (Ex. 3 Weighted Avg. 3 Days). Click Cost Transaction Details to view more details. This will extend the Cost Summary section.


What users will see will vary based on the Cost Updated Method, which can be changed from the Settings Tab.

Manual

Last Received

Last Received' will display a single transaction card if the item cost change was due to a single last transaction. If the item cost change is a result of more than one transaction, this card will reflect a weighted average of those transactions. Users will be able to expand the card to view the individual transactions

4

Location Costing Table

The item costs listed by location. From this grid, users can edit the reporting costs. Read additional details about the location costing table below.

1

Edit 

Click this button to enable manual editing for reporting costs. When clicked, each reporting cost field will be available to edit.

Users can also bulk edit reporting costs. Read more below. 

Users must click the enabled save button in order to save any changes to the table.

2

View Full Details

Click to only view the the location costing table on the page. This will also open up the table functions, which users can use to export the table, filter the results, and edit the available columns.

Click done to return to the default item cost tab screen.

3

Location Cost Entry

The individual location cost entry. Each entry will include the following information:

• Location - All of the locations that use this purchased item

• Inventory Cost - The cost for the Item at the specified location based on the inventory UofM

• Inventory UofM - The unit of measure used for Inventory for the specified location

• Reporting Cost - The cost for the Item at the specified location based on the Reporting UofM

• Reporting UofM - The most common way the Item is compared across multiple locations

• Commissary Status - Indicates whether an Item is 'Received from Commissary' or not. A 'yes' indicates that the Item is assigned to a Commissary Order

• Theo on Hand - The theoretical dollar amount (based on the usage per $1000) of the product on hand and the reporting UofM. This value is calculated at the end of each night

• Usage Per 1000 - The inventory usage rate per $1000 of sales and the reporting UofM. This value is calculated at the end of each night

1

Select the locations that need their reporting cost edited. Do this by clicking the checkbox in the first column for the corresponding entry.

To select all the locations, click the checkbox in the column header. 

2

From the bulk edit options, click the edit icon.

3

From the bulk edit prompt, ensure the attribute selected is reporting cost. 

4

Enter the value of the new reporting cost.

5

Click Update # Items to update all the locations with the new reporting cost.