Inventory Lots, Transaction History, and Revaluation Management

Overview

The Inventory Management system tracks stock using a lot-based FIFO (First In, First Out) model. Each inventory movement creates or interacts with one or more lots, preserving condition, cost, and carrying value over time.

This guide explains:

• How inventory lots are structured and displayed

• How costs and transaction history are tracked

• How revaluation checks work during certain transactions

• How to resolve transactions placed into Pending Valuation

Inventory Lots (Stock FIFO)

The Inventory Lots (Stock FIFO) section displays how on-hand inventory is grouped and valued.

Each lot represents inventory that shares the same:

• Source (Cost Center / Facility)

• Condition

• Cost basis

• Acquisition or valuation event

What You’ll See in the Lots Section

• Location / Cost Center
  Displays where the inventory currently resides.

• Condition
  Indicates the condition rating (e.g., B – 75%).

• Cost Codes
  Shows the associated major/minor cost codes tied to the lot.

• Quantity
  Total quantity remaining in the lot.

• Total Value
  The current carrying value of the lot.

At the lot summary level, you may also see:

• Total Groups (Compatible Lots)

• Total Lots

• Total Quantity

• Total Value

These totals help confirm how inventory is distributed and valued at a glance.

Item Costs

[SCREENSHOT: Item Costs panel]

The Item Costs section tracks direct cost records associated with the inventory item.

Each cost entry includes:

• Transaction ID (MT #)

• Date

• Type (e.g., Purchase, Refurbishing)

• Vendor

• Invoice Number

• Base Cost

• PST

• Total Cost

This section reflects financial inputs that contribute to an item’s overall carrying value but does not represent physical inventory movements on its own.

Transaction History

[SCREENSHOT: Transaction History table]

The Transaction History table provides a complete audit trail of inventory movements.

Columns Explained

• TX ID – Unique transaction identifier

• Status – Current transaction state (e.g., Pending Review, Pending Valuation)

• Type – Transaction type (Purchase, Transfer, Consumption, etc.)

• Qty – Quantity moved

• Source – Origin location or cost center

• Destination – Receiving location or cost center

• Condition – Condition at time of transaction

• In Use – Indicates if the item was placed into immediate use

• Costs – Associated transaction costs (if applicable)

• Carrying Value – Resulting value after valuation logic

• Actions – View or edit transaction details

This table is the primary place to:

• Review historical activity

• Identify transactions requiring follow-up

• Access transactions pending valuation or review

Revaluation Check

During certain transactions involving refurbishable inventory, the system may prompt a Revaluation Check.

This occurs when inventory with an existing carrying value is being moved and the system needs confirmation that the valuation is still accurate.

Current Values Displayed

The Revaluation Check displays:

• Current Condition

• Current Retail Price

• Existing Carrying Value

You are asked whether the item should be revalued based on its current state.

Revaluation Options

1. SAME

Select SAME if:

• The condition has not changed

• The retail price is still accurate

The transaction will proceed using the existing carrying value.

2. DIFFERENT

Select DIFFERENT if:

• The condition has changed
  or

• The retail price needs adjustment

You will be prompted to:

• Select a new condition

• Enter an updated retail price (if applicable)

• Provide optional notes

The system calculates a new carrying value based on:

• Retail price × condition percentage

3. UNSURE (Pending Valuation)

Select UNSURE if:

• The item requires inspection

• Condition or pricing cannot be confirmed immediately

When selected:

• The transaction is created with Pending Valuation status

• Inventory movement is paused until valuation is completed

A warning banner confirms the transaction cannot be finalized yet.

Pending Valuation Transactions

Transactions marked Pending Valuation appear clearly in the Transaction History.

These transactions require review before they can be finalized.

Completing a Pending Valuation

To finalize a Pending Valuation:

1. Open the transaction using the View (eye) icon

2. Scroll to the Valuation Management section

3. Review current catalog retail price and condition

4. Enable Revaluation Mode

5. Select the correct condition

6. Confirm or update retail price if required

7. Review the recalculated carrying value

8. Click Finalize Valuation and Save Changes

Once completed:

• The transaction status updates

• Inventory lots and carrying values are finalized

• The transaction becomes part of normal inventory history

Key Notes and Best Practices

• Revaluation checks apply to refurbishable inventory

• Not all transaction types will trigger revaluation

• Pending Valuation ensures financial accuracy before inventory is finalized

• Transaction History should be reviewed regularly to catch pending items