Inventory and AgriStability > Inventory adjustments > Inventory price adjustment

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« AgExpert Analyst Knowledge Base

Inventory price adjustment

Every year, the Canadian Wheat Board announces a new initial price. At that time, you can enter a price adjustment for any grain you have to ensure that your net worth statement is accurate.

In this example, the price of barley has increased from $100.99 per tonne to $150.00 per tonne.

 

To enter a price adjustment:

  1. Select Inventory Adjustment from the Inventory menu.
  2. Select the inventory account you want to adjust. The Inventory Adjustment dialogue box will appear. Note: You can change the account by clicking the  icon.
  3. Click the Adjust Value tab.
  4. Enter the following:

a) Date – enter the date

b) Reference – enter a reference number or word, for example, adjust

c) Description - enter a description of the transaction, for example, record price increase

d) Unit Value – enter the new initial price 

Last updated on September 2, 2016 by FCC AgExpert