Raw material inventory is the total cost of all component/parts currently in stock that have not yet been used in ‘Work in Progress’ or Finished Production.
Raw material can be categorized in following two types.
Direct materials: These are materials incorporated into the final product. For example, the wood used to manufacture wooden chairs.
New Stuff: IC/ Copy Bill of Material
Indirect materials: These are materials not incorporated into the final product, but which are consumed during the production process. For example, the lubricants, oils, rags, light bulbs etc. that are consumed in a typical manufacturing facility.
Sage 300 ERP’s inventory control module provides you Inquiry tool to analyze your inventory costs at real time. Here you can derive your inventory cost on the basis of transactions entered in system. You can get this from
Inventory Control >> IC Statics and Inquiry >> LIFO\FIFO Inquiry In above screen you can select specific inventory items for which you want to analyze the cost.
After clicking on specific inventory location you will get document wise costing details for selected Inventory item and location.

 In above screen system shows you document details with Quantity received with their value. For same item if the material is consumed or sold out, the same is reflected in Quantity shipped with material consumption cost.  For the quantity in hand it shows Quantity Available with respective cost.

 This way the cost Analysis and Inquiry in Sage can help you keep track of your costs, inventory costing and projections for sale and planning for purchase.
Tag line:
In above screen system shows you document details with Quantity received with their value. For same item if the material is consumed or sold out, the same is reflected in Quantity shipped with material consumption cost.  For the quantity in hand it shows Quantity Available with respective cost.
This way the cost Analysis and Inquiry in Sage can help you keep track of your costs, inventory costing and projections for sale and planning for purchase.
Also read:
1. Top Line Margin in Sage 300 ERP
2. New Unit Cost field on IC Lot Numbers Inquiry in Sage 300 ERP 2012
3. Average Costing Method Vs FIFO Costing Method Vs Sage ACCPAC ERP Costing Method
4. Alternate Amount in Inventory Control module of Sage 300 ERP
5. Different Costing methods in Sage 300 ERP
 
 
 
 
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