Hi Guys,
I have run into a little issue. I"m trying to update my item prices based on the new supplier cost using the formula funtion, as I'm receiving inventory in the PO. Let me explain:
Incoming inventory costs are sometimes different than the cost you have recorded in the system, under the supplier tab for that item. As you know, when you go to receive a PO, there's a Cost coloumn that displays the existing supplier cost. If you enter a new cost for an item and click the commit button, the supplier cost will be updated to the value you entered. So far so good.
There's also a "New Price" field on the same sheet, which seems to be the logical place for calculationg and submitting new item prices. However, it is not allowing me calculate the new prices based on the new incoming supplier costs. I go the New Price field and use the formula function and select any of the criteria listed (Supplier Cost, Item Last Cost, Item Replacement Cost...) and none of them seem to be based on the updated Supplier cost I just entered under the Cost field!
Has anybody run into that issue before? What would you do to get around that problem? Could that have anything to do with the weighted average cost calculation method?
Thanks,