Background: Inventory Valuation for Buy Items

Use the Inventory Valuation for Buy Items (IVLB) program to print a report that calculates the variance between extended actual and standard cost for items you buy. See Road Map for work flow.

The report includes this information:

  • Item number

  • Branch

  • Item type: 1: Dependent item, 2: Phantom, 3: Finished good, 4: Pseudo, 5: Configured product, 6: Prompt, 7: Family

  • Quantity on hand: Quantity on hand + Quantity in floor stock

  • Quantity in WIP

  • Quantity intransit

  • Total quantity: Quantity on hand + Quantity in WIP + Quantity intransit

  • Actual unit cost

  • Extended actual cost: Extended quantity x Actual unit cost

  • Standard unit cost

  • Extended standard cost: Extended quantity x Standard unit cost

  • Variance: Extended actual cost - Extended standard cost

  • Product class code

  • Report totals for quantity on hand, quantity in WIP, quantity intransit, extended quantity, extended actual cost, extended standard cost, and variance

  • * Average unit cost

  • * Extended average cost: Extended quantity x Average unit cost

Note
* these fields are output only if your output device is a text file or Microsoft Excel.