How to calculate Inventory value at the select date.
How to calculate inventory value at the select date.
Example: Inventory total on 30 June 2019
Get current total inventory value.
Go to Reports > Inventory > Inventory Total Group By Supplier
Select Internal Stock Only -> Yes and search
Current total inventory value = Grand total in Total Vlaue(Average Cost) column. Example below: $63194.75
Get COGS after 30 June 2019
Go to Reports > Sales > Sales - Month
Select Date from 2019-07-01 to current date and click "Search".
At result data table, find the total Item Cost(ex GST), Example below: $10544.34
Get total Purchase Order value after 30 June 2019
Go to Purchase > Search Purchases
Select Date from 2019-07-01 to current date, select search by "Invoice Date", Select status "Published" and click "Search".
At the result table, scroll to the end and get the Total purchase value of this page, in example below: $6490.19 (This is the total of current page only)
If result show more than 1 page, add up all the page total value.
Calculate inventory value on 30 June 2019
inventory value on 30 June 2019 = (Current Inventory value) - (PO total after 31/06/19) + (Cogs after 31/06/19)
In Our example:
Current Inventory value = $63194.75
PO total after 31/06/19 = $6490.19
Cogs after 31/06/19 = $10544.34
inventory value on 30 June 2019 = $63194.75 - $6490.19 + $10544.34 = $67,248.9
Updated on: 05/11/2020