IQTek - Software product & solutions company

Stock valuation

The system has been designed to enter quarterly stock take data & valuation stock based on receipts (CCIs) for the year based on FIFO logic.

1. Stock take data entry

  1. Entry of RM, FG, WIP, Supplier & branch stock cards

2. Provision to transfer stock data into

  1. Inventory as RM stock
  2. MRP as WIP
  3. OPC as supplier stock

3. Valuation of RM based on FIFO logic as specified in stock valuation policy.

4. Valuation of WIP based on RM rate & Bill of Material

5. Reports & queries

  1. Stock valuation query details item stock, rates & CCIs
  2. CCI/ GRA list
  3. FG, WIP valuation report
  4. CCI/ GRA list
  5. RM valuation report
  6. Statement of issues
  7. Schedule 6 report