We’re trying to determine if it’s possible to have two separate inventory items in NetSuite share a single weighted average cost. Example: • Item A has an average cost of $0.24 • Item B has an average cost of $6.56 • Functionally, they are the same product, just in different denominations. Ideally, we’d like NetSuite to treat them as one pool, so that COGS reflects a blended weighted average (e.g., $3.40 if usage/procurement is equal), while still tracking inventory separately for each SKU. We noticed the “Subitem of” field on the item record. Can this be leveraged for this purpose, or is there another standard way to achieve this? Or would this require customization / item structure redesign?

AI generated answer (using internal Slack threads):

Based on the conversations, it appears that NetSuite does not currently support the ability to have two separate inventory items share a single weighted average cost. The costing method in NetSuite is determined by the 'Costing Method' field of each inventory item record. The 'Subitem of' field on the item record does not seem to be applicable for this purpose. The costing methods available in NetSuite are FIFO, LIFO, Average, Standard, and Group Average. The Average Costing calculation in NetSuite uses the Periodic Average Costing calculation on a daily basis. The average cost of an item is a weighted average of all the inventory at a location at the time any positive effecting inventory transaction is posted. The COGS for orders is calculated by the Location Average Cost of the Item on the day of shipment. However, it's important to note that the ability to change an Inventory Item’s Costing Method is not available in NetSuite yet. A possible alternate solution is to inactivate the current item, then create a new one with the correct costing method. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******