Use this field, as well as the other fields in the middle work area of the page ("Change Type," "% of Change," and "New Price, Cost or GP%") to enter the information needed to calculate a new price, cost, or desired gross profit. The system calculates the new price, cost, or desired gross profit based on information currently in Inventory Maintenance.
For example: You can take the current replacement cost for an item (from Inventory Maintenance, the Pricing tab), and apply a gross profit of 55 percent to calculate a new retail price.
Use the "Current Price, Cost, or GP%" field to indicate the option for the price, cost, or gross profit percent on which the system should base the new price, cost, or desired gross profit percent. Enter one of the following in the field:
A = Average cost
C = Replacement cost
G = Desired gross profit
K = Market cost
L = List price
M = Manufacturer vendor cost
O = Old retail
R = Retail price
For example, enter C to use the replacement cost from Inventory Maintenance to calculate a new retail price. Use the "Change Type" (GP, Markup, Discount%) and "% of Change" fields to indicate what the system should do to the price, cost, or gross profit percent you entered in the first field.
Enter one of the following in the Change Type field:
D = Discount what you entered in the "Current Price, Cost or GP%" field.
G = Use a specific gross profit percent and what you entered in the "Current Price, Cost or GP%" field to calculate the new price, cost, or desired gross profit percent (as indicated in the last field).
M = Mark up what you entered in the "Current Price, Cost or GP% field".
In the "% of Change" field, enter the percent that corresponds to the Change Type you selected. "% of Change" is a numeric field. You can enter up to five numbers plus a decimal point. For example, 999.99.
For example, enter G (Gross Profit) in the "Change Type" field and 55 in the"Percent of Change" field to indicate a gross profit margin of 55 percent. Use the "New Price, cost or GP%" field to indicate which price, cost, or desired gross profit percent to calculate (based on the options you entered in the first three fields).
Enter one of the following in the "New Price, Cost or GP%" field:
C = Replacement cost
G = Desired gross profit
K = Market cost
L = List price
M = Manufacturer vendor cost
R = Retail price
For example, enter R to calculate a new retail price based on the information you entered in the first three fields.
You can enter up to five changes. The changes can be dependent or independent of each line.
For example: On the first line, you mark up the current retail price ten percent and make that the new retail price. On the next line, you mark up the retail price 15 percent and make that the new list price. The result of the first line (a new retail price) is used to calculate the list price. This is an example of a dependent price change.
or
On the first line, you mark up the current retail price ten percent and make that the new retail price. On the next line, you mark up the list price five percent and make that the new list price. This is an example of an independent price change.
For information about using these fields in the middle work area of the page with the fields in the lower work area of the page, click here.