HOW TO CHANGE lot ITEM AVERAGE COST IN NETSUITE

AI generated answer (using internal Slack threads):

In NetSuite, the average cost of lot numbered items is initially calculated as an average, but the costing engine updates it later to reflect the cost set to each lot number. If you're seeing an average cost that doesn't seem correct, you may need to wait for the costing engine to run and update the costs. If you need to manually adjust the average cost of an item, you can use the Adjust Inventory Worksheet. Here's how to do it: 1. Navigate to Transactions > Inventory > Adjust Inventory Worksheet. 2. Select your date at the top, then select your item from the list. 3. Set the quantity to the same as the on-hand quantity (so you don't adjust the quantity), but then set the value to the new value you want. 4. This will set the average cost for that item to that amount on the day you have selected at the top. You can also check your costing preferences by going to Setup > Accounting > Costing Preferences to see how often your costing runs. Your average cost is updated based on that cycle. However, please note that changing an Inventory Item’s Costing Method from 'average' cost to 'group average' cost is not currently available in NetSuite. A possible workaround 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. ******