View stock item buying prices

Find this screen

Open: Stock Control > Enquiries > Stock Buying Prices.

How to

View stock buying prices

Open: Stock Control > Enquiries > Stock Buying Prices.

• Select the stock item Code to display the buying prices for that item.

• The Average buying price is shown for all stock items regardless of their costing method. See How the average price is calculated.

• The Buying Prices list displays the quantities of stock bought at their various buying prices.

  • This shows you the price that you've paid for items currently in stock. Once you've sold all the stock bought in at a specific price, then the price is removed.

  • The buying price is updated when you record receiving goods from purchase orders or manually add stock.

  • Where a price is not recorded for goods received the label unknown is used. These quantities are not used in the Average buying price calculation.

  • The Total in stock value may not match the Quantity total if goods have been returned.

  • All prices are displayed in your base currency.

View receipts

This shows you when stock was bought in at the specified price.

1. Select a price from the Buying Prices list.
2. Select View Receipts.
3. This shows all the Goods Received Notes (GRNs) and stock adjustments for the selected buying price.

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Useful info

How the average price is calculated

The Average buying price is calculated from the total price paid for the items in stock divided by the number of goods in stock.

It's calculated in the following way:

((Current Total Quantity in Stock x Current Average Buying Price) + (Quantity Brought In x Price Brought In)) / (Current Total Quantity in Stock + Quantity Brought In)

The price is updated when a purchase order for item is recorded as received or a return is recorded as despatched. It is not updated when goods are sold.

Note: If you sell all items of stock (your stock level is 0), the cost of the next item bought becomes your average buying price.

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Questions