Sunday, November 13
Continuous Stock System in SAP business one
This topic describes the continuous stock system in SAP business one. At the conclusion of the topic you will be able to describe the continuous stock system, describe the three possible costing methods, initialize the continuous stock system in your company, and describe the moving average costing method.
A continuous stock system reflects the value of stock postings by means of monetary transactions in terms of the accounting system. These monetary transactions are carried out only when the items defined as WH items are received or released from the stock. A continuous stock system should be determined during basic initialization before any transactions have been posted. The stock account reflects the stock final value and recorded in most of the stock transactions in SAP business one.
A warehouse item is linked to a stock account. As you purchase this item by the purchasing documents, the balance of the stock account increases. When you sell this item using sales document, the balance of the stock account decreases.
There are three possible costing methods used for calculating the inventory. First one is moving average. This option calculates the inventory value by the item’s cost price. Next is the standard. This option calculates the inventory value by a fixed price. The items standard price should be fixed before starting to work your the company. The last one is FIFO. This option calculates the inventory value by the FIFO method( first in first out). Each inventory receipt transaction creates a layer or quantity related to costs; each inventory release transactions will use quantities and their corresponding costs from the first open layer or layers.
Check the box ‘inventory valuation by’ to initialize the stock system. Define primary G/L accounts to be selected as default in new warehouses, item groups and item master data. Set G/L accounts in the item master data window.
Initializing the continuous stock system: under administration, system initialization, then company details with the basic initialization tab page. First check the box ‘inventory valuation by’, in order to initialize a continuous stock system. As a result the following fields will be displayed. In the inventory valuation by, chose from the drop down menu one of the three options- moving average, standard or FIFO. Starting from version 2004 it is possible to change this method in any time. The default costing method for the new items is taken from the linked item groups, and the costing method of new item groups is then selected in this field. A new company is created with the moving average inventory valuation method as a default. The next is ‘handle price system from the warehouse’ check this box to manage separately the cost of each of the items in the warehouse. Use purchase account posting system. This box is available in only certain localizations. Check this box if you want to document your inventory transactions on the expenses side, and as well as conducting a continuous stock system. Each journal entry would have additional rows reflecting the companies expenses. Additional documentation is provided. Next area is ‘ allow stock release without cost price’ . check this box to allow stock release transaction with zero value. Thus the inventory valuation will not be affected. Note that the box ‘inventory valuation by’ cannot be checked after stock costing have been recorded. Moreover you cannot clear this box after the creation of an automatic stock posting. For example, delivery, goods received,etc.
Detailed information about the stock G/L account is attached later. The stock account reflects the stock final value, and is recorded in most of the stock transactions in SAP business one. Cost of goods sold is used in good delivery, invoices and to the returning account used in the AR returns and AR credit memos. Next is the allocation account. This account is used as an offsetting account in the goods, CPOs and AP credit memos. The balance of this G/L account reflects the total amount of open goods receive PL and good returns. Then comes the variance account. This account is used only in the standard price inventory system. In certain scenario, in case there are differences between the standard price and the actual price in the purchasing document, these differences would be recorded in the variance account. Examples are provided later. Then its sales returns. This is an offsetting account to the cost of goods sold account used in the AR returns and AR credit memos. Goods clearing account is an offsetting account to the allocation costs used when enclosing goods received POs or goods returns. In this case, no inventory entry is registered, however a journal entry is created including this G/ L account. Next is the expenses clearing account. If you choose to additional start with expenses you need to specify an offsetting G/L account to the stock account for clearing the journal entries created by AP invoices and goods received POs. note that this G/L account is involved with the journal entries whenever the allocation account is also involved. The stock account balance plus the sales returns account balance reflect the the total stock value.
Setting of G/L accounts in the item master data: select administration. Under it system initialization, then general settings, and finally the inventory tab page. Under the default warehouse, choose from the dropdown menu the default warehouse that is being used by your company. Set G/L account by. Use the dropdown menu to select the required method by which you would like to set the G/L accounts connected to your items. First is WH. Initially you need to find the warehouse window. Locate it under administration, definitions, inventory , warehouses an finally accounting tab page. Next is item group. In G/L account in order to find it you need to find the item groups window. Locate it under administration, definitions, inventory , item group. Define an accounting tab page. Next is the item level. So in this method in order to define G/L accounts for each item manually, via inventory, item master data, inventory tab page. Auto – add all the new items to the warehouse. Check this box that you wish SAP business one to add all the existing warehouses to every new item and every new added warehouse to all the existing items.
General remarks: it is generally recommended to define a separate warehouse for fixed asset items. In all three costing methods, the price calculated for the items is in the local currency. Starting in version 2004, it is possible to whether the row level additional expenses will affect the inventory valuation in purchasing documents.
When managing a continuous stock system by moving average, a stock receipt will debit the stock account of each warehouse, according to the price entered in the document. You can see that the vendor or the allocation account is credited and the stock account is debited according to the value of the cost price. This price will also update the item’s cost price according to a calculation formula relevant to the moving average system.
The moving average costing method: a stock release posting will credit the stock or sales returns account according to the items cost price. Stock release documents do not affect the cost price of your items. Note that the item prices recorded in the A/R credit memes and returns do not influence the cost price and are not considered to the calculation of the journal entries reflecting the inventory value , which these documents create.
The following demonstration shows the influence of release and receipt documents on the stock accounts and on the items cost pricing. This will not include all the possible journal entries created by release and receipt documents.
First take a look at the items managed by the moving average costing method. Under the inventory data tab page in the field costing method, you can see that the selected costing method is moving average. It is also possible to change the costing method into standard or FIFO. These will be discussed later. The default costing method for an item is taken from the linked item group. the costing method selected in group is the method selected in covering detail in basic initialization tab page, in the field inventory valuation by. Starting in version 2004, it is possible to change the costing method of an item. However, only if it is not linked to any open documents and its on hand stock is zero. If the box handle price system through warehouses is checked under system initialization in basic initialization tab page., the cost price will be ,managed and calculated separately, for each item in each warehouse and will be displayed in the warehouse row in the table. Here you can see that each of the displayed items are displayed along with the corresponding cost price. The moving average price which is the cost price will be displayed here after the inventory transactions will be carried out in SAP business one. You can see that every warehouse in the table is linked to G/L accounts according to the field set G/L accounts by. You can see the stock G/L account which is the main account, in which the inventory valuation is recorded. Lets see examples of journal entries created in working of a continuous stock system by the moving average costing method. Lets start with the goods receipt PO. Lets select a business partner and an item. first some prerequisites. Make sure that the business partner is tax exempted and that the item is not tax liable and is defined with the moving average costing method. Note that the warehouse specified under the item number one is the warehouse number one. Lets add this document. Lets browse back and display its journal entry. The debit and credit amounts are calculated by multiplying the quantity of the item in the document by the prices specified in the goods received. You can see that one multiplied by one hundred equals one hundred and this is the amount displayed in the journal entry. Let take a look at the item master data under the inventory data tab page and you can see that the cost price is calculated as one hundred. Lets open the journal entry again. You can see that the stock account recorded in the journal entry is stock one which is linked to warehouse number one as specified in the item master data. You can see that the stock account is debited. Therefore the items inventory valuation increases. You can see the allocation account here. Remember that a this allocation account functions as a temporary alternative to the vendors account which will be cleared only after you create a corresponding A/P invoice or goods return document. Lets copy this goods received PO to an A/P invoice. Lets select the vendor. Click on goods receipt PO and select the goods receipt PO and just create it. Lets add the document. Browse back to create it again and click this link arrow to display its related journal entry. When you base an A/P invoice in a goods received PO, the allocation account is debited. Counter to it is the vendors account which is credited. Note that the allocation account serves as a clearing account here. It is debited in the account in which it was credited in the goods received PO created earlier. Lets take a look at the item. You can see that the cost price is still one hundred since we did not change its receipt price. Now lets add an independent A/P invoice. This is an invoice that is not based on any other document. Select a vendor and now type a price of one hundred and twenty US dollars. Lets add the document. Browse back and display the journal entry. You can see that the debit and credit amounts are now one hundred and twenty and not one hundred. This is since the price form the document is taken and multiplied by the quantity. Note that now the stock account is recorded in the journal entry and not the allocation account. Lets take a look at the item master data. You can see that the cost price of the item is changed to one hundred and ten. This is because the first item received in the stock was received for one hundred dollars and the second item received was for one hundred and twenty dollars. The moving average of the two items with these two prices results in one hundred and ten. Now let us take a look at some release documents. Lets begin with delivery. Select a business partner and assign them. Lets deliver this item with a quantity of one and a price of one hundred. Lets take a look at the items cost price and consider that it is one hundred and ten. Lets add the document and browse back to display its related journal entry. You can see that although the price in the delivery document was one hundred dollars, the journal entry created here reports one hundred and ten both in the debit and credit sides. These are the amounts calculated by multiplying the quantity by each one of the items in the delivery document by their cost price. The cost of goods sold account functions as on offsetting account to the stock account and the stock account is credited. Thus the item inventory valuation is decreased. Now lets base an A/R invoice on this delivery. Again you can see here that the price is one hundred. Lets add the document and browse back to display the journal entry. When you base an A/R invoice on a delivery, no stock posting is created. Thus only a regular journal entry is created in the accounting system. You can see that there are no stock accounts here. Only the customer and the revenues account. Now lets add an independent A/R invoice. Again lets select a customer and an item. Lets add the document and browse back and look at its linked journal entry. This journal entry includes both the deliveries and inventory transaction represented by these two rows and the invoices accounting transaction represented by these two rows. Now lets see an inventory document. Lets ho to inventory and select inventory transaction and then select stock transfer. Lets transfer one unit of this item from warehouse number one to warehouse number two. Lets add the document and get back to see its linked journal entry. If you specify different stock accounts for your different warehouses, the stock transferred transaction will credit the stock transaction to the release warehouse. In this case the warehouse number one. And debit the stock account of the received warehouse. In this case the warehouse number two. The release and the receipt prices are set by the moving average price of the item in the release warehouse. You could see that one hundred and ten is displayed for warehouse number one.
Moving average in the production process: in a production order for a bill of materials item the parent item price will be calculated according to the moving average prices of its child items. You cannot change its price. There are two methods for issuing items in production orders. Additional information is provided in a separate lesson. One method is manual. In this method, you document the parent items receipt and the child items release in two separate steps. Second is the backflush. In this method, the parent items receipt and the child item release are recorded simultaneously. If your company is upgraded from a version before 2004, the old production method also will be available.
Lets take a look at the influence of the production process on the continuous stock system. First take a look at the define of bill materials window. Here you can see the parent product which is going to be received in warehouse number two. The parent product is comprised of this child item with a quantity of two which is going to be released from warehouse number one. Both the parent and child items are defined with moving average as their costing method. The child items cost price is one hundred in warehouse number one. Lets open a production order. Select the parent item .in the production order, the parent items price will be calculated according to the moving average prices of its child items. It is not possible to change this price. There are two methods for issuing items in production order which are manual and the backflush. Additional information is provided in a separate document. Manual: In this method, you document the parent items receipt and the child items release in two separate steps. First lets add this production order in a planned status. Browse back and change the status to release. Update the window, right click the mouse and select the issue components. This action will release the child items from the warehouse number one. Lets add the document. Browse back and take a look at the journal entry. You can see that the stock account at the child release in warehouse is credited and the work in progress account is debited. The credit and debit account amounts are calculated according to the moving average prices of the child item. You can see that the child items moving average price is one hundred in warehouse number one, multiplied by two gives you two hundred. Now lets receive the parent account into the warehouse number two. Select report completion and click on add. Browse back and take a look at the journal entry. You can see that the work in process account is credited and the stock account of warehouse number two is debited. Lets go back to the production order window. If we had selected the issue method as backflush when the production order was completed, the stock account of the parent item warehouse will be debited and the stock account of the child item warehouses would be credited. Again the release and the receipt prices are set by the moving average prices of the child items. However in the backflush method there is no issue for production but the two journal entries shown to you are just created simultaneously . when the issue method is set to manual, there might be a situation where the cost price of the item changes during the production process. For example this items cost price used to be one hundred dollars. An issue component took place , but then before the report completion was added the moving average price of the item was changed to one hundred and ten dollars instead of one hundred dollars. In this case under the summary tab page you can see the following data. The actual components value is two hundred ,however the actual products value is two hundred and twenty. Therefore there is a variance of twenty dollars. This variance would be reported as you close the production order. You can see that the work in process materials and the work in process variance are debited and credited respectively.
Working with negative stock: in a situation in the item quantity when the stock is zero or negative, the creation of the stock receipt document changes the cost price of the item to be entered in that receipt document.
You are now able to describe the continuous stock system, describe the three possible costing methods, initialize the continuous stock system in your computer and also be able to describe the moving average costing method.
A continuous stock system reflects the value of stock postings by means of monetary transactions in terms of the accounting system. These monetary transactions are carried out only when the items defined as WH items are received or released from the stock. A continuous stock system should be determined during basic initialization before any transactions have been posted. The stock account reflects the stock final value and recorded in most of the stock transactions in SAP business one.
A warehouse item is linked to a stock account. As you purchase this item by the purchasing documents, the balance of the stock account increases. When you sell this item using sales document, the balance of the stock account decreases.
There are three possible costing methods used for calculating the inventory. First one is moving average. This option calculates the inventory value by the item’s cost price. Next is the standard. This option calculates the inventory value by a fixed price. The items standard price should be fixed before starting to work your the company. The last one is FIFO. This option calculates the inventory value by the FIFO method( first in first out). Each inventory receipt transaction creates a layer or quantity related to costs; each inventory release transactions will use quantities and their corresponding costs from the first open layer or layers.
Check the box ‘inventory valuation by’ to initialize the stock system. Define primary G/L accounts to be selected as default in new warehouses, item groups and item master data. Set G/L accounts in the item master data window.
Initializing the continuous stock system: under administration, system initialization, then company details with the basic initialization tab page. First check the box ‘inventory valuation by’, in order to initialize a continuous stock system. As a result the following fields will be displayed. In the inventory valuation by, chose from the drop down menu one of the three options- moving average, standard or FIFO. Starting from version 2004 it is possible to change this method in any time. The default costing method for the new items is taken from the linked item groups, and the costing method of new item groups is then selected in this field. A new company is created with the moving average inventory valuation method as a default. The next is ‘handle price system from the warehouse’ check this box to manage separately the cost of each of the items in the warehouse. Use purchase account posting system. This box is available in only certain localizations. Check this box if you want to document your inventory transactions on the expenses side, and as well as conducting a continuous stock system. Each journal entry would have additional rows reflecting the companies expenses. Additional documentation is provided. Next area is ‘ allow stock release without cost price’ . check this box to allow stock release transaction with zero value. Thus the inventory valuation will not be affected. Note that the box ‘inventory valuation by’ cannot be checked after stock costing have been recorded. Moreover you cannot clear this box after the creation of an automatic stock posting. For example, delivery, goods received,etc.
Detailed information about the stock G/L account is attached later. The stock account reflects the stock final value, and is recorded in most of the stock transactions in SAP business one. Cost of goods sold is used in good delivery, invoices and to the returning account used in the AR returns and AR credit memos. Next is the allocation account. This account is used as an offsetting account in the goods, CPOs and AP credit memos. The balance of this G/L account reflects the total amount of open goods receive PL and good returns. Then comes the variance account. This account is used only in the standard price inventory system. In certain scenario, in case there are differences between the standard price and the actual price in the purchasing document, these differences would be recorded in the variance account. Examples are provided later. Then its sales returns. This is an offsetting account to the cost of goods sold account used in the AR returns and AR credit memos. Goods clearing account is an offsetting account to the allocation costs used when enclosing goods received POs or goods returns. In this case, no inventory entry is registered, however a journal entry is created including this G/ L account. Next is the expenses clearing account. If you choose to additional start with expenses you need to specify an offsetting G/L account to the stock account for clearing the journal entries created by AP invoices and goods received POs. note that this G/L account is involved with the journal entries whenever the allocation account is also involved. The stock account balance plus the sales returns account balance reflect the the total stock value.
Setting of G/L accounts in the item master data: select administration. Under it system initialization, then general settings, and finally the inventory tab page. Under the default warehouse, choose from the dropdown menu the default warehouse that is being used by your company. Set G/L account by. Use the dropdown menu to select the required method by which you would like to set the G/L accounts connected to your items. First is WH. Initially you need to find the warehouse window. Locate it under administration, definitions, inventory , warehouses an finally accounting tab page. Next is item group. In G/L account in order to find it you need to find the item groups window. Locate it under administration, definitions, inventory , item group. Define an accounting tab page. Next is the item level. So in this method in order to define G/L accounts for each item manually, via inventory, item master data, inventory tab page. Auto – add all the new items to the warehouse. Check this box that you wish SAP business one to add all the existing warehouses to every new item and every new added warehouse to all the existing items.
General remarks: it is generally recommended to define a separate warehouse for fixed asset items. In all three costing methods, the price calculated for the items is in the local currency. Starting in version 2004, it is possible to whether the row level additional expenses will affect the inventory valuation in purchasing documents.
When managing a continuous stock system by moving average, a stock receipt will debit the stock account of each warehouse, according to the price entered in the document. You can see that the vendor or the allocation account is credited and the stock account is debited according to the value of the cost price. This price will also update the item’s cost price according to a calculation formula relevant to the moving average system.
The moving average costing method: a stock release posting will credit the stock or sales returns account according to the items cost price. Stock release documents do not affect the cost price of your items. Note that the item prices recorded in the A/R credit memes and returns do not influence the cost price and are not considered to the calculation of the journal entries reflecting the inventory value , which these documents create.
The following demonstration shows the influence of release and receipt documents on the stock accounts and on the items cost pricing. This will not include all the possible journal entries created by release and receipt documents.
First take a look at the items managed by the moving average costing method. Under the inventory data tab page in the field costing method, you can see that the selected costing method is moving average. It is also possible to change the costing method into standard or FIFO. These will be discussed later. The default costing method for an item is taken from the linked item group. the costing method selected in group is the method selected in covering detail in basic initialization tab page, in the field inventory valuation by. Starting in version 2004, it is possible to change the costing method of an item. However, only if it is not linked to any open documents and its on hand stock is zero. If the box handle price system through warehouses is checked under system initialization in basic initialization tab page., the cost price will be ,managed and calculated separately, for each item in each warehouse and will be displayed in the warehouse row in the table. Here you can see that each of the displayed items are displayed along with the corresponding cost price. The moving average price which is the cost price will be displayed here after the inventory transactions will be carried out in SAP business one. You can see that every warehouse in the table is linked to G/L accounts according to the field set G/L accounts by. You can see the stock G/L account which is the main account, in which the inventory valuation is recorded. Lets see examples of journal entries created in working of a continuous stock system by the moving average costing method. Lets start with the goods receipt PO. Lets select a business partner and an item. first some prerequisites. Make sure that the business partner is tax exempted and that the item is not tax liable and is defined with the moving average costing method. Note that the warehouse specified under the item number one is the warehouse number one. Lets add this document. Lets browse back and display its journal entry. The debit and credit amounts are calculated by multiplying the quantity of the item in the document by the prices specified in the goods received. You can see that one multiplied by one hundred equals one hundred and this is the amount displayed in the journal entry. Let take a look at the item master data under the inventory data tab page and you can see that the cost price is calculated as one hundred. Lets open the journal entry again. You can see that the stock account recorded in the journal entry is stock one which is linked to warehouse number one as specified in the item master data. You can see that the stock account is debited. Therefore the items inventory valuation increases. You can see the allocation account here. Remember that a this allocation account functions as a temporary alternative to the vendors account which will be cleared only after you create a corresponding A/P invoice or goods return document. Lets copy this goods received PO to an A/P invoice. Lets select the vendor. Click on goods receipt PO and select the goods receipt PO and just create it. Lets add the document. Browse back to create it again and click this link arrow to display its related journal entry. When you base an A/P invoice in a goods received PO, the allocation account is debited. Counter to it is the vendors account which is credited. Note that the allocation account serves as a clearing account here. It is debited in the account in which it was credited in the goods received PO created earlier. Lets take a look at the item. You can see that the cost price is still one hundred since we did not change its receipt price. Now lets add an independent A/P invoice. This is an invoice that is not based on any other document. Select a vendor and now type a price of one hundred and twenty US dollars. Lets add the document. Browse back and display the journal entry. You can see that the debit and credit amounts are now one hundred and twenty and not one hundred. This is since the price form the document is taken and multiplied by the quantity. Note that now the stock account is recorded in the journal entry and not the allocation account. Lets take a look at the item master data. You can see that the cost price of the item is changed to one hundred and ten. This is because the first item received in the stock was received for one hundred dollars and the second item received was for one hundred and twenty dollars. The moving average of the two items with these two prices results in one hundred and ten. Now let us take a look at some release documents. Lets begin with delivery. Select a business partner and assign them. Lets deliver this item with a quantity of one and a price of one hundred. Lets take a look at the items cost price and consider that it is one hundred and ten. Lets add the document and browse back to display its related journal entry. You can see that although the price in the delivery document was one hundred dollars, the journal entry created here reports one hundred and ten both in the debit and credit sides. These are the amounts calculated by multiplying the quantity by each one of the items in the delivery document by their cost price. The cost of goods sold account functions as on offsetting account to the stock account and the stock account is credited. Thus the item inventory valuation is decreased. Now lets base an A/R invoice on this delivery. Again you can see here that the price is one hundred. Lets add the document and browse back to display the journal entry. When you base an A/R invoice on a delivery, no stock posting is created. Thus only a regular journal entry is created in the accounting system. You can see that there are no stock accounts here. Only the customer and the revenues account. Now lets add an independent A/R invoice. Again lets select a customer and an item. Lets add the document and browse back and look at its linked journal entry. This journal entry includes both the deliveries and inventory transaction represented by these two rows and the invoices accounting transaction represented by these two rows. Now lets see an inventory document. Lets ho to inventory and select inventory transaction and then select stock transfer. Lets transfer one unit of this item from warehouse number one to warehouse number two. Lets add the document and get back to see its linked journal entry. If you specify different stock accounts for your different warehouses, the stock transferred transaction will credit the stock transaction to the release warehouse. In this case the warehouse number one. And debit the stock account of the received warehouse. In this case the warehouse number two. The release and the receipt prices are set by the moving average price of the item in the release warehouse. You could see that one hundred and ten is displayed for warehouse number one.
Moving average in the production process: in a production order for a bill of materials item the parent item price will be calculated according to the moving average prices of its child items. You cannot change its price. There are two methods for issuing items in production orders. Additional information is provided in a separate lesson. One method is manual. In this method, you document the parent items receipt and the child items release in two separate steps. Second is the backflush. In this method, the parent items receipt and the child item release are recorded simultaneously. If your company is upgraded from a version before 2004, the old production method also will be available.
Lets take a look at the influence of the production process on the continuous stock system. First take a look at the define of bill materials window. Here you can see the parent product which is going to be received in warehouse number two. The parent product is comprised of this child item with a quantity of two which is going to be released from warehouse number one. Both the parent and child items are defined with moving average as their costing method. The child items cost price is one hundred in warehouse number one. Lets open a production order. Select the parent item .in the production order, the parent items price will be calculated according to the moving average prices of its child items. It is not possible to change this price. There are two methods for issuing items in production order which are manual and the backflush. Additional information is provided in a separate document. Manual: In this method, you document the parent items receipt and the child items release in two separate steps. First lets add this production order in a planned status. Browse back and change the status to release. Update the window, right click the mouse and select the issue components. This action will release the child items from the warehouse number one. Lets add the document. Browse back and take a look at the journal entry. You can see that the stock account at the child release in warehouse is credited and the work in progress account is debited. The credit and debit account amounts are calculated according to the moving average prices of the child item. You can see that the child items moving average price is one hundred in warehouse number one, multiplied by two gives you two hundred. Now lets receive the parent account into the warehouse number two. Select report completion and click on add. Browse back and take a look at the journal entry. You can see that the work in process account is credited and the stock account of warehouse number two is debited. Lets go back to the production order window. If we had selected the issue method as backflush when the production order was completed, the stock account of the parent item warehouse will be debited and the stock account of the child item warehouses would be credited. Again the release and the receipt prices are set by the moving average prices of the child items. However in the backflush method there is no issue for production but the two journal entries shown to you are just created simultaneously . when the issue method is set to manual, there might be a situation where the cost price of the item changes during the production process. For example this items cost price used to be one hundred dollars. An issue component took place , but then before the report completion was added the moving average price of the item was changed to one hundred and ten dollars instead of one hundred dollars. In this case under the summary tab page you can see the following data. The actual components value is two hundred ,however the actual products value is two hundred and twenty. Therefore there is a variance of twenty dollars. This variance would be reported as you close the production order. You can see that the work in process materials and the work in process variance are debited and credited respectively.
Working with negative stock: in a situation in the item quantity when the stock is zero or negative, the creation of the stock receipt document changes the cost price of the item to be entered in that receipt document.
You are now able to describe the continuous stock system, describe the three possible costing methods, initialize the continuous stock system in your computer and also be able to describe the moving average costing method.
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