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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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