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In FirstBIT ERP, the costs of inventory, costs of goods sold, costs of services are calculated automatically by the Month-End Closing service tool. 

Note. If the Production module is enabled, the average costs of finished goods are not calculated during the month-end closing process – you must use the Production > Production Documents > Costing form to calculate the costs of finished goods.

The options available for cost calculation on the Accounting > Service Tools > Month-End Closing form define the stages of cost calculation:

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For more details on allocations refer to Overview of Cost Allocations.

Calculation of Actual Costs

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