How to manage stock with variable cost

[yemyataung]

Hi,

I'm a retailer who purchase same stock from the supplier with variable costs. Variable cost can be because of the following

1. Different FX rate

2. Promotion/Discounts

Let's say I buy 10 pieces per PO (PO #1) at 3 dollars each. Retail price is 5 dollars per item. Assume if I restock at 4 dollar per item (PO #2), how do I set cost of those items? When I restock, I may still have left a few stock from PO #1 with old price.

Thanks in advance!

 

Edited November 29, 2022 by yemyataung

[Ann]

Hi, 

I was also searching on how to manage it in my business. I am doing it this way: 

When I have items that were purchased with the old cost (not yet sold), and I want to make another purchase of those items but the cost is already different, I am creating another item with the same name to have both costs reflected in my back office. 

The SKU and sales history is different, even though that's the same item name, but that's how I manage it in my business. 

[yemyataung]

On 11/30/2022 at 3:14 PM, Ann said:

Hi, 

I was also searching on how to manage it in my business. I am doing it this way: 

When I have items that were purchased with the old cost (not yet sold), and I want to make another purchase of those items but the cost is already different, I am creating another item with the same name to have both costs reflected in my back office. 

The SKU and sales history is different, even though that's the same item name, but that's how I manage it in my business. 

Hi Ann,

Thanks for sharing this. I guess that's one workaround if there aren't many SKUs. I also tried the 14 days inventory management trial feature and the way loyverse currently handle this is by averaging the costs between old and new.

 

[Angelika]

Hello! 

 

The best way to manage variable cost is to use Purchase order. You can type there the cost for which you bought your items and the average cost in the item card will be recalculated after receiving the Purchase order.