Inventory Cost History

Inventory Cost History is a crucial feature that provides a detailed record of changes made to a product’s purchase price over time. This feature is particularly important for businesses that need to monitor pricing fluctuations for budgeting, forecasting, and financial analysis. When the purchase price of a product changes—whether it increases, decreases, or even reaches zero—the Inventory Cost History feature captures and logs this change. For instance, if the price of an item changes from 0 PHP to 100 PHP, the system will document the following:

• Date of Update: The exact date and time when the price change occurred.

• Previous Cost: The cost prior to the change, which helps in understanding the context of the adjustment.

• New Cost: The updated price, providing clarity on the current cost structure.

• Module Used for Adjustment: This records the specific module or system functionality utilized to implement the price change, such as manual entry or batch update. It also captures the staff member who made the modification.