What is inventory price in SAP FIN-BAC-INV - Inventory Accounting?

SAP Term: inventory price

• Component: FIN-BAC-INV

• Component Name: Inventory Accounting

• Description: Price at which a material inventory is valuated during a period. The inventory price can change during the period, but there is only ever one inventory price for any given financials period: Postings in the current period are valuated with the current inventory price. Postings in prior periods are valuated with the last valid price of that period.

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• Key Concepts: 
  Inventory price is a term used in SAP's Inventory Accounting component (FIN-BAC-INV). It is the cost of goods that are purchased or manufactured and stored in inventory. This cost is used to calculate the value of inventory on hand and the cost of goods sold. 
  
  How to use it: 
  Inventory price is used to calculate the value of inventory on hand and the cost of goods sold. This cost is determined by the purchase price of the goods, plus any additional costs associated with storing and handling the goods. The inventory price can be adjusted for inflation or other factors that may affect the cost of goods over time. 
  
  Tips & Tricks: 
  It is important to keep track of inventory prices in order to accurately calculate the value of inventory on hand and the cost of goods sold. It is also important to adjust for inflation or other factors that may affect the cost of goods over time. 
  
  Related Information: 
  For more information about Inventory Accounting in SAP, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_ERP_Central_Component/6.0/en-US/f3d8f9a7c2b14e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b14/.