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  #1  
Old 08-23-2007, 12:16 PM
bvpharm bvpharm is offline
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Cost of goods is averaging

I have Quickbooks Enterprise Solutions 2.0 and I've been having this problem since the earlier versions. Where the cost of goods is being averaged, which means if a product's cost 5 years ago was $5.00 and now it's $10.00, the cost of goods will show as $7.50. It's messing up my whole accounting at work.

Is there any way to leave the cost of goods as it is and not have it average? Is there any way to turn this off?
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  #2  
Old 08-23-2007, 01:55 PM
suzannemead suzannemead is offline
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Quickbooks uses the averaging method for inventory. There is no way to change the method.
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  #3  
Old 08-23-2007, 11:16 PM
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lisa_mn lisa_mn is offline
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If you need FIFO or LIFO you'll have to switch to Peachtree.
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  #4  
Old 08-24-2007, 02:44 AM
Raj Raj is offline
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Quote:
Originally Posted by bvpharm View Post
I have Quickbooks Enterprise Solutions 2.0 and I've been having this problem since the earlier versions. Where the cost of goods is being averaged, which means if a product's cost 5 years ago was $5.00 and now it's $10.00, the cost of goods will show as $7.50. It's messing up my whole accounting at work.

Is there any way to leave the cost of goods as it is and not have it average? Is there any way to turn this off?
can be................!

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