Ideas

COGS and Cost variance

Dear Team Find attached COGS and Cost variance of attached bar code for given period. You are required to provide option to change default LIFO method of cost capture for COGS purpose and difference between average cost and COGS under LIFO reporting under Cost variance column in Stock Movement Report to moving average cost method. Cost variance method it self is not applicable to trading and does not warrant this which unnecessarily creates confusion and difficult to explain to tax authorities. When we look at margin analysis Sales – cogs but in reality we have define Sales – COSG+Cost variance. How the user remember and create cube and analyse margin % We would like to have moveing weighted average cost which was captured in attached excel sheet and that cost should be item cost, which is standard universal practice by and large. We are not for cost variance method under any circumstance. Ist scenario – LIFO Only for issue purpose 2nd Scenario -Cost var - Simple avg cost 3rd Scenario - moving avg cost OB 979.20 979.20 979.20 Site Transfer IN 2,992.00 2,992.00 2992.00 Sales - COS -2,176.00 -2,176.00 -2203.20 Cost vari due to avg cost change -27.20 CB 1,795.20 1,768.00 1,768.00

  • Guest
  • May 14 2021
  • Unlikely to Implement
  • Attach files
  • Admin
    Product Team commented
    10 Aug, 2023 05:55am

    Hello,

    Our team called at (+91) 9384835055 to understand the requirement in detail and resolve the same, but the concerned person is unwilling to explain the same, so we are marking the idea as UTI. If you have any concern regarding the same you can comment in portal or reach us at shreya.a@gsl.in.

    -Product Team (SA)

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