Use this procedure to automatically update the standard price and/or standard costs in the Inventory master file. This can be done for a range of item numbers and to all or a selected group of product lines, price codes, or vendor numbers.
To change price and cost

1 On the Inventory Management Main menu, click Automatic Cost/Price Change.

2 At the Cost Change Method field, select the method you want to use to change your standard cost.

3 At the Cost Change Rate field, enter either the percent change increase or amount change increase depending on your selection at the Cost Change Method field.

4 At the Price Change Method field, select the method you want to use to change your standard price.

5 At the Price Change Rate field, enter either the percent change increase or amount change increase depending on your selection at the Price Change Method field.

6 At the Price Type to Change field, select the type of change to apply.

7 At the Item No. field, select the items to be changed by a range of items, product lines, price code, or vendor number.

8 Click the Printer button to print the Automatic Cost/Price Change Register. After the register prints, click Yes to update the information to the Inventory master file.

NOTE If you are using the Standard Cost valuation method, using this procedure to change standard cost does not affect the general ledger Inventory account. You must use General Ledger Journal Entry in the General Leger module to adjust the Inventory account.