How is average cost calculated / how to fix an error

[GRCBar]

GRC Bar v.14

How is average cost calculated? And is there a way to correct an error in that if something was entered incorrectly?

We have a few items in our inventory that were entered with the wrong cost. Some were entered with $0.00 as a cost and several others were entered with a bottle/box cost rather than a single/drink price. This throws our reports off when we do costing analysis. We have a few where our average costs are in the several thousands of dollars. Is there a way to edit that to correct it? Short of deleting the items and losing sales history. The avg. cost field in the product page is not an editable field.

[ronaldrwl]

You can reset the Avg Cost in the Product Control window.  It's under the Tools menu.  This will change the Avg Cost for future sales.  It will not change any previous sales.