Specifications
Chapter 5. Inventory
Dim11 187
Ø Market Cost
The value for market cost is determined by the market cost basis code set up
in field #15 in IM1.D. See Basic Inventory Data for an explanation of market
cost basis.
Ø LIFO Cost
This is a manually maintained cost. It is entered and changed only through
inventory maintenance. LIFO cost is used for your information only.
Cost Percent
Every item sold at POS/Order Entry should have a cost. If there is no cost set up
in IM2 for this item, the computer will calculate a cost. To help it estimate a fairly
accurate cost, you should enter a cost percent (IM1.D, field 20). The selling price
is multiplied by the cost percent to compute a cost. If there is no cost or cost
percent set up for the item, you will be asked to enter a cost when the item is
selected at POS/Order Entry.
Inventory Prices
The Dimensions system allows for 9 price levels for each inventory item. In
addition, matrix pricing provides for 90 more price levels, making a total of 99
prices per item. Typically, this many price levels are not used or even needed in
normal, day-to-day operations but they are provided. A/R customers are assigned
a price level so that when they purchase items at POS, the correct price is supplied
automatically by the computer. The price level in the customer’s record
corresponds to the price adjustments in the inventory record.
For the purposes of getting inventory started, the concept of price levels and their
relationship to Price Basis, List/Base, and Price Adjustments 1-9 should be
understood. If not done already, read about Price Basis in Basic Inventory Data.
It also explains about List/Base and Price Adjustments 1-9. Then return here.
F NOTE: There is an option to round prices which will change the results of price calculations. See
Appendix C. Field Definitions, Add New Items, field 25 (Price Round Code) for more
information.
Loading Costs & Prices
Gather the following information for each inventory item. If desired, you can work
with a section or group of inventory at a time.
Ø List/Base
Ø Price Adjustments 1-9
Ø Market Cost
Ø Average Cost
Ø Last Cost
Ø Cost Percent
There are several different ways of getting this information into the inventory file.
This section presents 3 of these procedures: