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Actual Cost Inventory Valuation

by
Qingdao Oudu Software Co.,Ltd, Cui Jianping / Jason
- 03/03/2016 00:39:20

Hi community,

 

There is a practice in product costing where below points are followed:

-      As accounts related to labor cost and some others are only aggregated at the end of each month, actual cost of each product can only be obtained after completing those accounts. Hence monthly weighted average is adopted on inventory costing.

-      Since cost is valued at end of each month, products get in and out with a cost value of zero during the monthly intervals.

-      After completion of apportion from all actual costs at the month end, the actual cost is re-populated to those incoming documents occurred during the period.

-      Only after the incoming documents are updated with actual cost, outgoing documents are then re-populated with their respective cost based on monthly weighted average.

 

It is wondered if any odoo instance has such kind of implementation, and what modules are used for this purpose.

 

Best regards,

 

Jason Cui

Qingdao Oudu Software