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Sale Pricing - Average Cost of Goods

Maybe We are not going about this in the easiest way, but I have an issue with re-pricing stock when we have Close Out sales for old stock.

 

I use an exported item listing to identify which products should go on clearance, but when it comes to working out sale pricing, the report shows the cost field rather then the average cost of the product.  We work in multi currency with products sometimes purchased at a discount which means cost can vary wildly so the average cost is needed to accurately work out how much we can afford to reduce the price of the products

 

Is there a way I can produce a report which shows the average cost of the stock items?  The stock summary report does this, but it uses the purchase description of the product rather than the sale description and we use the report to send to customers after reformatting in Excel & adding the sale price.

 

Also I'd be interested to know how others produce sales lists and show the old & new price to customers.  We put '(Old Price £xxx) in the sales description & adjust the sale price on QB, so it shows on invoices, but again there might be an easier way....

 

 

 

1 REPLY 1
QuickBooks Team

Re: Sale Pricing - Average Cost of Goods

Hello mattymoo,

 

You'll want to use two different reports which are the Inventory Stock Status by Item report and the Item Listing report. This way, you can view the average cost and the sales description. Let me guide you with the steps.

  1. Click Reports at the top. Then, Inventory.
  2. Click Inventory Stock Status by Item.
  3. Click Customize Report at the top.
  4. Under Search Columns field, type Avg Cost.
  5. Click Excel drop-down, then choose Create New Worksheet.
  6. Click Export.

Once done, you can insert your average cost to your exported Item Listing report manually.

 

Please see added screenshots below.

 

I've also added our page about reports and accounting for future reference.

 

You can always swing by anytime if you need help with anything else.

 

report0001.JPG

 

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