Summary
This module covered various aspects of inventory cost methodologies and management processes in finance and operations apps. The choice of inventory costing method impacts inventory valuation, profit calculation, and pricing management. Different costing methods, such as FIFO, LIFO, weighted average, moving average, and standard cost, have different implications for inventory valuation and financial reporting. In this module, you discovered the inventory close process and inventory recalculation, and you learned how these processes affect the general ledger. Additionally, you learned how to choose the best costing method based on business needs and gained insights into inventory transaction archiving to manage database performance.