Available in Sage 50 Premium Accounting and higher.
Revalue an Inventory Item with FIFO
Revaluing an inventory item is a two-part procedure. First, you must adjust the item's quantity to zero, and then you need to adjust it back to the original count with the new Unit Cost. If you are using locations and need to revalue an item company-wide, you must repeat this procedure for each location that stocks the item.
Note: Revaluing an item clears all previous inventory cost layers and creates a new layer with one cost.
To adjust the item's quantity to zero:
- In the Inventory
Adjustments window, prepare the adjustment transaction as you normally
would (source, comment, date), and click
to open the Inventory
list. - Select the item, taking note of the Qty on Hand and click Select.
- Enter the number from the Qty on Hand in the Quantity column, as a negative value.
- Click Process.
To revalue the item:
- In the Inventory
Adjustments window, prepare the adjustment transaction as you normally
would (source, comment, date), and click to open the Inventory
list.
- Select the item and click Select.
- Enter the item's Quantity and Unit Cost.
- Click Process.