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waxglass2020
Level 2

Inventory Overage

We ordered 100 wicks, but received 102 for our inventory. Our cost is for 100 wicks, not 101. Where and how do I account for the additional wick? Thanks

2 Comments 2
vpcontroller
Level 11

Inventory Overage


@waxglass2020 wrote:

We ordered 100 wicks, but received 102 for our inventory. Our cost is for 100 wicks, not 101. Where and how do I account for the additional wick? Thanks


@waxglass2020 

Recording Inventory is always at a cost, not market value.

So, you received two units for FREE. Record the same way.

 

JoeE
Level 2

Inventory Overage

You will received 102 on the PO, two of which will be free since the total cost did not change. This will reduced your average cost of the wicks:

 

Total spent / 102 pcs   

versus

Total spent / 100 pcs.

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