How one could increase the total amount/Value of the inventory item(s) while the quantity remains constant.
If we purchase item "A" quantity 50 @ 2 , Then its total value would be $100, and average coat per unit will be $2.
suppose after 1 month, i want that the qty of "A" remains same ie 50, but its price increase with total amount of $50.
Now the seceario will be as that the total value of Item "A" will $150 and total qty 50,now the average cost per unit will be increased by $1.5.instead of $1.
Plz guide me in detail and tell the procedure step by step that how i can change this price,(keeping in view that it effects will be directly hit to CGS,Accounts payable,sales,inventory etc.)
Actually i need this procedure due to LCs(Letter of credits) in which 60 to 90 days are required to complete the procedure and to close the LCs,which includes direct cost of raw material,clearing charges,taxes,duties and tariifs,currency adjustments etc.
In actual practice we receive inventory(Raw Material) after 30 days of opening LC,Now other charges are also includes in it till the closure of LC,we make GRN at the orginla cost of raw material and enter into the system but the problem arises when we have to pay further amount till the closure of LC and this very further amount which is actullay the part of raw material is not entered into the system.