Costing Method - FIFO
Inventory Valuation - Automatic
I have a product A in my inventory.
Doing a purchase of 1 qty with the cost of $10. As soon as I received/validated the Receipt, the Cost is updated as $10, which is fine. I have created the Vendor bill as well and all the entries seem correct.
Now I need to create a Landed cost against this shipment. So I created a Landed cost (Freight Charges - Service Type - marked as Landed cost product in the master as well) and created a vendor bill with the price of $5 and Validated. Then I created the Landed cost from that particular bill and mapped the shipment also in that Landed cost record and Validated.
But the cost of the Product is still $10. Meanwhile, if we are checking the Valuation (from the product master - On Hand QTY) the valuation is updated as $15.
Why it is not reflecting in the Product Cost? Am I missing something or the default flow is that?