| # Item Inventory - Cost Details (whwmd2517m000) Use this session to view the inventory cost details by item and warehouse. Warehouse A place for storing goods. For each warehouse, you can enter address data and data relating to its type. currency The currency used to value the item. Item In LN, the raw materials, subassemblies, finished products, and tools that can be purchased, stored, manufactured, sold, and so on. An item can also represent a set of items handled as one kit, or exist in multiple product variants. You can also define nonphysical items, which are not held in inventory but can be used to post costs or to invoice services to customers. The following are examples of nonphysical items: Cost items (for example, electricity) Service items Subcontracting services List items (menus/options) Cost Component A cost component is a user-defined category for the classification of costs. Cost components have the following functions: To break down an item's cost price, sales price, or valuation price. To create a comparison between the estimated production order costs and the actual production order costs. To calculate production variances. To view the distribution of your costs over the various cost components in the Cost Accounting module. Cost components can be of the following cost types: Material Costs Operation Costs Surcharge on Material Costs Surcharge on Operation Costs WIP Transfer Costs General Costs Note If you use Assembly Control (ASC), you cannot use cost components of the General Costs type. FTP The firm value against which an item is valuated in the inventory. This value equals the item cost price, including any surcharges or discounts. FTP also is an inventory valuation method for accounting purposes. FTP uses the fixed transfer price to valuate the inventory. MAUC An inventory valuation method for accounting purposes. The MAUC is the average value for each unit of the current inventory. For each new receipt the MAUC is updated. |