Costing
Weighted Average Costing Method
Weighted Average Inventory Costing Method in CustomBooks™ Overview In CustomBooks™, weighted average is one of the available options to track the cost of items over time. Weighted average is generally useful for businesses with non-unique items, and ...
Inventory Layers; FIFO Costing Method and How to Resolve Out of Order Layers
Inventory Layers in CustomBooks™ Overview In CustomBooks™, inventory layers are used to track the quantity and cost of items over time. These layers play a critical role in inventory valuation and sales postings, particularly when using the FIFO ...
Costing Methods
CustomBooks™ offers two Costing Methods, Weighted Average (Default) and FIFO. Weighted Average In accounting, the Weighted Average costing method of inventory valuation calculates the Cost of Goods Sold (COGS) using a weighted average. This method ...