Does Endless track the actual costs I pay and update a product’s cost when inventory is received?

Endless shows the costs recorded on each supply shipment for a product, and you choose when to copy them into the product’s default costs.

The history is on the product’s Pricing & Costs tab, in the Shipment Costs card. It lists every supply shipment line for the product with the shipment, its status, the arrival date, the quantity, Unit Cost, Freight / Unit, Duties / Unit, and Landed / Unit. You can filter it by shipment status and sort it by when the item was created or by expected arrival. Freight and duties per unit are the line’s freight and duty costs divided by its quantity. Landed / Unit is blank until the line has a unit cost, a freight cost, and a duty cost.

When a sales order shipment is created, Endless gives each shipped line one unit cost for cost of goods:

• the supplier unit cost on the fulfillment order line, when there is one, such as on a dropship fulfillment order;
• otherwise the product’s Default Landed Cost, when it is above zero;
• otherwise the product’s Default Unit Cost.

That cost stays on the shipment line. If you change a product’s default costs later, select “Refresh Shipment Costs” on the sales order list, or refresh costs on the shipment, to apply the current costs to existing shipments.

To use what you paid after receiving a supply shipment, enter the new cost on the product, set a cost estimate as default, or update the costs with the product import. Value inventory by average cost or FIFO in your accounting system.

Contact Endless support to discuss inventory valuation.