Last Purchase Order Price

Legacy Contributor

We use Average/Actual Costing but for the purpose of quoting, we use the last Purchased Price of an item. This is the cost on the most recent Purchase Order for the item.  We would like to display this on the Items form to show this cost.  Has anyone done anything like this and have some direction?

wat

What you're requesting is standard functionality.  Set Item cost type to Actual, and Cost Method to Average.  On Purchasing Parameters, set Update Current Cost to Last (this means Last PO Cost).  Current Cost is used for estimating; Cost is used for COGS & inventory valuation (things that impact the GL).