Wasp Barcode Inventory Control User Manual
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InventoryControl Printable Help
The average cost is not $309.60 ($46,750 / 151). Since there is no way to edit the cost of an add or
receive after it is processed, InventoryControl ignores the $0 cost adds. If an item is accidentally added
at $0 cost the average and valuation would be incorrect until that item is removed through FIFO.
If you do want $0 cost items to be included in the average you can add them at $0.01. Although this
would not produce an exact average or valuation, it would have the same effect as averaging in $0 cost
items over time.
Inventory that is added using the Adjust screen is added at the average cost for that item at the time of
the adjustment. This way the average is not affected since, in most cases, the cost of that item is not
known.
Inventory valuation includes the zero cost items when it calculates. The valuation is the number of units
times the average price.
$311.67 x 151 scanners = $47,062.17
How is Cost Handled when Receiving against a Purchase Order?
If you have the Pro or Enterprise version, you can create a purchase order (PO) and receive against that
PO. When you do this, the stocking unit's cost is calculated from the cost that is on the PO. Please refer
to
for more information on using Purchase Orders.
How is Cost Handled When Adding and Receiving on the Mobile Devices?
If you are adding inventory on a mobile device, the cost will transfer as either the Item Cost or the
Average Cost,
depending on the selection made on the Options screen
Keep in mind that there is no way to change the price after the handheld transactions are processed on
the PC.
If you have the Enterprise or Pro version and the inventory is received against a PO on the handheld, the
item cost is calculated from the cost on the PO. If the final cost is different from what was put on the PO
you can edit the handheld transactions as described above.
How is Cost Handled when Importing Inventory?
Inventory does not import with a cost. If you intend to use cost you should manually add your inventory
using the Add screen and specify the cost. Usually you can calculate the average cost of your existing
inventory and it is recommended that you use the average cost number to start with.
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