Average Cost of Goods stays at $0.00 on our Merchandise Sales Report after updating the merchandise

 If you add merchandise with a $0 cost, the average cost of goods may appear as $0.00 even after updating the merchandise with a higher cost. Also, you will see this number when you run the Merchandise Sales Report.
When you click Edit in the merchandise inventory, the cost there is only affecting new inventory. That option does not apply retroactively to inventory that was already added. When we update the cost by editing the merchandise, it will update the vendor price for any future shipment and the retail price for future sale of merchandise. It will not modify the average cost (as the cost has not been updated for the past shipments) until new items are added to inventory. Once a new item is added to inventory, the average cost will be modified accordingly and automatically.

To edit the cost of the current inventory:
  1. Open your merchandise item
  2. Click on the merchandise item and click Change Inventory
  3. Mark the Adjust quantity button and adjust the quantity down to 0 by entering a negative number.  Select or enter a reason, like data entry error
  4. Click Save
  5. Click Change inventory again
  6. Mark the Add inventory shipment button, enter the cost and appropriate quantity
  7. Click Save

Environment

 Altru Arts & Cultural

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