Repricing Inventory

Overview

Use this procedure to reprice your inventory. Inventory price changes allow you to maintain, Selling Price 1, Selling Price 2, Minimum Price, Maximum Price, Market Cost and Extended prices for Selling Price 1, Selling Price 2, or both.

To reprice inventory:

1. From the Toolbar, click INV for Inventory.

2. From the Inventory menu, select Inventory.

3. From the Inventory Menu, select Inventory Pricing Menu.

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4. Select Inventory Price Changes.

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5. In the Beginning and Ending boxes, type a range of information that will limit the number of items to reprice, or leave blank to display all items.

6. In the Item Type box, type 1 for Service, 2 for Formula, 3 for Manufactured, 4 for Regular, 5 for Grain Manufactured, 6 for Grain Commodity, or 7 for Grain Formula.

7. In the Include Active Inventory Items Only? box, type Y to limit the selection of inventory items to only those with a Y for active status code set, or type N to include both active and inactive items in the selection of inventory items.

8. In the Price Each Location Separately? box, type Y to set prices and/or the market cost for each location, or type N to set the price boxes and/or market cost box to the same values for all location codes.

9. In the Save Current Prices Prior To New Calculations?, type Y to create a price schedule for each individual item with the old selling price, or type N to continue without creating a price schedule.

10. Click OK.

11. Select the type of price you want to update (Options 1 - 6).  Selling Price 1 (Charge) and Selling Price 2 (Cash) reflect the descriptive titles assigned in Setup Information.

12. The Calculation Base box determines the cost or selling price box to be used in the calculation. Type 0 for Zero, 1 for Average Cost, 2 for Recent Cost, 3 for Market Cost, and 4 for Charge, and 5 for Cash. Selling Price 1 (Charge) and Selling Price 2 (Cash) reflect the descriptive titles assigned in Setup Information. 

13. In the Accumulate From Components box, type Y to set the base to a value calculated from the standard list of components. This applies only to inventory item types that have components. A negative response to this question uses the base on the finished product.

14. The Calculation Type input field selects the formula to use in calculating the new price or market cost. Type 1 for Plus Percent Market, 2 for Plus Percent Margin, 3 for Plus Dollar Amount. The formulas for the three Calculation Types are as follows, where base equals the value in the Calculation Base field and amount equals the value in the Amount field:

    • Plus % Markup = (base) + (base x amount)

    • Plus % Margin = (base) / (base - amount) x 100

    • Plus $ Amount = (base) + (amount) input field selects the formula to use in calculating the new price or market cost.

15. In the Calculation Amount box, type either a percentage or flat dollar amount, based on the calculation type specified above. The value may be positive or negative, depending on the calculation base.

16. In the Decimal Positions box, the default from Setup Information displays and may be overridden.

17. In the Override Calculated Price? box, type Y to display a window with the calculated price for each selected inventory item, which can be approved or overridden., or type N to update without further intervention.

18. In the Pricing Unit Of Measure box, the default displays as blank to use the sales unit of measure for the calculation. To base the calculation on a different unit of measure, click Lookup or type * and press Enter, and then select the pricing unit of measure, or type the pricing unit of measure .The substituted unit of measure must share the same common unit of measure as the sales unit of measure.

19. Click OK.

20. In the Printer box, type the number associated to the place you want your report to print.

21. In the Print Type box, type the number associated to the characters per inch to print the report in.

22. In the Copies box, type the number of copies of the report you want to print.

23. In the Pages From and To boxes, type the page number range you want to print the report for. Leave the boxes blank to print all pages.

24. Click OK.

25. The current price or market cost displays. The New box defaults the calculated price or market cost. Click OK to accept the defaulted calculated value, or override the calculated price or market cost and click OK.

Learn more about Inventory Pricing feature: