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COGS/reordering bulk purchase, individual sale
My supplier sells in bulk. 5 widgets in a bag. I sell them individually. We I receive the item I can set the qty to 5 & divide the cost to get an appropriate COGS. However, when I attempt to reorder, the purchase price is incorrect & I end up having to modify the PO price.
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Looks like your on Desktop - you should switch on the system option for Inventory 'units of measure'.
Then define a Bag5 unit for that item which contains 5 pieces.
Now you can buy and sell in single units or Bag5 units and the costing will be correct.
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Then do you have to adjust the inventory manually?
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Hi aboard2123,
In addition to MikeinBC's answer, you'll have to switch the unit of measure option in the inventory item.
Here are the steps:
- Click Lists located at the top.
- Choose Item List, and find the item.
- Double-click the item to open.
- Under Unit of Measure, select the U/M Set from the drop-down list.
- Click OK.
Then, manually adjust the inventory by following the steps:
- On the Item List page, right-click on the item.
- Choose Adjust Quantity/Value On Hand.
- Select the Adjustment Type, Adjustment Date and Adjustment Account.
- Click the Find & Select Items button.
- Click Save and Close.
You can also check this article for more details: Adjust inventory quantity or value.
If there's anything else you need, feel free to leave a comment. Thanks.