Wasp Barcode Inventory Control - Manual (Page 32)

InventoryControl Printable Help
50 scanners x $300 = $15,000 (from the 1st)
50 scanners x $320 = $16,000 (from the 8th)
50 scanners x $315 = $15,750 (from the 15th)
------------
$46,500 / 150 = $311.67 average cost
On the 17th you removed 60 scanners so the average cost will become:
40 scanners x $320 = $12,800 (from the 8th)
50 scanners x $300 = $15,000 (from the 1st)
-----------
$27,800 / 90 = $308.89 average cost
 Legacy Method (the method used in previous versions of InventoryControl) - This is the method
used in previous versions of InventoryControl. The legacy method uses FIFO and manages cost
by location and track by level.
How do I determine my Stocking Unit?
The quantity of an item on all screens and reports is counted using the Stocking Unit you specify or
eaches (ea.) if you do not specify a unit. The stocking unit can be entered for each item on the New or
Edit Item screen's Additional tab (shown below):
When you enter the stocking unit, you need to pick the smallest unit of measure that you will ever use to
remove a whole item. A good test to use when deciding what the stocking unit should be is to ask
yourself how you count and refer to one unit. Think about what your answer would be if you were asked
to count how many of this item you have. If the answer is 100 feet of rope, for example, "feet" or "ft" is the
stocking unit. If the answer is 20 scanners, then "ea" is the stocking unit because "each" is common
when the unit itself is not a standard unit of measure. If the answer is 100 boxes or nails, then "box" or
"bx" is the stocking unit.
17