Need cost of inventory but having problem

[thecaptive]

Ronald,  Hope things are going well for you.  I have been trying to get an amount of my cost of inventory for my accountant.  When I go to Manage/Reports/Inventory/Value the amounts I get make no sense at all.  It says I have Total Assets - $108,151,952.00 and Total Retail - $94.692.84.

I have gone through the list of items and can not see anything that looks out of the ordinary as far as amounts.  I could believe the Retail amount but the other number I can't explain or figure out.

Also, I am using v.11, what version is the current one now and would it be a good idea to upgrade?

Thanks

Craig

[ronaldrwl]

The number used for the Total Assets is the Avg Cost field times the Qty field on all the products.  Check those fields.  My guess is one of the Avg Cost is wrong.  The Avg Cost can be set the Cost using the Tools / Set Avg Cost to Cost function.

[Lee]

This has happened to me on about a dozen products.  Outrageous values.  A quart of Cobra malt liquor with an average coat of $395?!?

[thecaptive]

Thanks I'll give it a check.

[thecaptive]

Checked out the Average cost but there was nothing that would give me a number of $108,000,000.00.  Is there any way to adjust the average cost other than deleting and redoing each product that is off.  Also is there anything else that could cause this type of problem, I really don't want to have to do the math for each item myself, I have about 2000 items.

[Lee]

In the product control window you can list up to 2,000 products and set the "average cost" to "cost" on all of them at the same time.

[ronaldrwl]

Use the Tools / Set Avg Cost to Cost in the Product Control window.