Costing Methods

SedonaOffice offers four methods of costing/valuing your inventory parts; Average Costing, Standard Costing, Serial Number and Lot Number Costing.  Based on our experience and understanding of inventory processing, we feel the use of Standard Costin...

Average costing is a method of calculating part cost by warehouse based on the cumulative journal activity for a given part.  All receipts, issues, physicals and adjustments are cumulated as of the date of the costing to determine the average cost o...

The Lot Number Costing Method allows your company to track an inventory part by Lot Number from the time it is received on a Purchase Order to the time it is issued to a Job or Service Ticket.  Lot Number parts are valued at the receipt cost from a ...

Serial Number costing allows your company to track an inventory part by serial number from the time it is received on a Purchase Order to the time it is issued to a Job or Service Ticket.  Serialized parts are valued at the receipt cost from a Purc...

Standard Costing Standard Costing allows for the standard usage of a cost basis on a Part level to ensure all transaction for the Part are using one cost for all transactions throughout the inventory and usage processes.   With the use of Standard C...