How to Correct the Average Cost and Accounting Entries for an Item Received with the Wrong Cost (or Price)? (Doc ID 610282.1)

Last updated on AUGUST 12, 2016

Applies to:

PeopleSoft Enterprise SCM Purchasing - Version 7.5 and later
PeopleSoft Enterprise SCM Inventory - Version 7.5 and later
PeopleSoft Enterprise SCM Manufacturing - Version 8.4 and later
PeopleSoft Enterprise SCM Cost Management - Version 7.5 and later
Information in this document applies to any platform.

Goal

Suppose that you have received an Average Costed Items into Inventory using a wrong Cost (or Price), how can you correct the Average Cost and Accounting Entries that have already been posted to GL with the wrong Cost?

Solution

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