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Microsoft MB-800 Exam - Topic 1 Question 57 Discussion

A company uses the average costing method and inventory periods. Automatic Cost Posting is not enabled.You close the inventory period for July 2020. You set the value of the Allow Posting From field in General Ledger Setup to August 1, 2020.You receive and post a purchase invoice for freight charges on August 8, 2020 against a purchase invoice that was posted on July 15, 2020. You run the Adjust cost -- Item entries batch job for August.You need to identify the adjustment entry related to July after running the batch job.Which date is automatically selected for the value entry by batch job?
A) July 15, 2020 and D) July 1, 2020
B) August 8, 2020
C) August 1, 2020

Microsoft MB-800 Exam - Topic 1 Question 57 Discussion

Actual exam question for Microsoft's MB-800 exam
Question #: 57
Topic #: 1
[All MB-800 Questions]

A company uses the average costing method and inventory periods. Automatic Cost Posting is not enabled.

You close the inventory period for July 2020. You set the value of the Allow Posting From field in General Ledger Setup to August 1, 2020.

You receive and post a purchase invoice for freight charges on August 8, 2020 against a purchase invoice that was posted on July 15, 2020. You run the Adjust cost -- Item entries batch job for August.

You need to identify the adjustment entry related to July after running the batch job.

Which date is automatically selected for the value entry by batch job?

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Suggested Answer: A, D

by Penney at Nov 23, 2023, 10:45 AM

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Kristofer
7 months ago
But what about the posting date? Does that not matter here?
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Sabra
8 months ago
I think it’s always the earlier date when adjusting costs.
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Amber
8 months ago
Wait, are we sure it’s not August 8? That seems confusing.
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Micah
8 months ago
Definitely, it has to be July 15, 2020!
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Rosalyn
8 months ago
The adjustment entry will be based on the original invoice date, July 15.
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Iraida
9 months ago
I’m a bit confused about the posting dates. I thought the batch job would pick the date of the freight charges, which is August 8, 2020.
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Lauran
9 months ago
This seems similar to a practice question we did on inventory adjustments. I feel like it might default to the July date since that's when the invoice was posted.
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Scot
9 months ago
I'm not entirely sure, but I remember something about how the batch job selects the earliest date available. Could it be August 1, 2020?
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Latricia
9 months ago
I think the adjustment entry should relate to the original purchase invoice date, which was July 15, 2020.
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Lura
9 months ago
Confident I can solve this one. I'll just need to carefully apply the rules around inventory periods and cost adjustments.
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Delisa
9 months ago
Based on the details provided, I think the answer is B. The batch job should use the August 8, 2020 date since that's when the freight charges were posted.
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Fannie
9 months ago
I'm a bit confused by the different dates mentioned. I'll need to make sure I understand the timeline and how the batch job works in this scenario.
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Dolores
9 months ago
Okay, let's see. The key information seems to be the dates and the Adjust cost -- Item entries batch job. I think I have an idea of how to approach this.
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Sarah
9 months ago
Hmm, this one seems tricky. I'll need to carefully read through the details and think it through step-by-step.
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Katina
9 months ago
Okay, let me think this through. I know manual summarization can be done on the ABRs, but I'm not sure if it's required or optional. I'll have to review the details on that.
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Major
9 months ago
I feel pretty confident about this. I've worked with these Oracle modules before, so I think I can identify the correct ownership for the shared entities mentioned in the statements.
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Merlyn
10 months ago
Wait, what? I'm a little confused here. I need to double-check the definition of a Cartesian product to make sure I understand this correctly.
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Laticia
1 year ago
Automatic Cost Posting not enabled? Wow, these guys are really going manual with their inventory management. Next thing you know, they'll be using abacuses and carrier pigeons to keep track of their finances.
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Garry
1 year ago
I heard the company uses the 'average costing method' - is that like when you just guesstimate the cost of everything and call it a day? Sounds like a recipe for 'average' accounting, if you ask me.
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Marget
1 year ago
C: Right, it helps smooth out fluctuations in costs.
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Julian
1 year ago
B: Oh, I see. So it's not just guessing, it's a calculated average.
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Leslie
1 year ago
A: It's actually a method where you calculate the average cost of all inventory items.
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Ailene
1 year ago
July 1, 2020? Really? That's like, the start of the year or something. This question is clearly trying to trick us. I'm sticking with the July 15, 2020 date - it just makes the most logical sense.
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Yuette
1 year ago
Definitely, let's go with July 15, 2020 for the adjustment entry.
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Rusty
1 year ago
Yeah, I think so too. It's probably the date the purchase invoice was posted.
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Annamae
1 year ago
I agree, July 1, 2020 doesn't seem right. July 15, 2020 makes more sense.
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Daren
1 year ago
I'm going with option C, August 1, 2020. That's the date the 'Allow Posting From' field was set to in the General Ledger Setup, so the batch job should use that as the default date for the adjustment entry.
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Willis
1 year ago
Hmm, August 8, 2020 sounds like the correct answer, since that's the date the freight charges were posted. But wait, the question says the inventory period for July 2020 was already closed, so I think the answer has to be July 15, 2020.
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Denae
1 year ago
So, the batch job would select July 15, 2020 automatically.
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Felix
1 year ago
Yes, but the inventory period for July was already closed.
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Emily
1 year ago
But the freight charges were posted on August 8, 2020.
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Felix
1 year ago
I think the answer is July 15, 2020.
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Ma
1 year ago
The batch job will automatically select the July 15, 2020 date for the value entry, since that's the date of the original purchase invoice being adjusted. This makes perfect sense to me.
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Lucy
1 year ago
C) August 1, 2020
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Nicolette
1 year ago
That's correct. The batch job will select the date of the original purchase invoice for the adjustment entry.
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Regenia
1 year ago
A) July 15, 2020
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Alverta
1 year ago
B) August 8, 2020
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Silva
1 year ago
That's correct. The batch job will select the date of the original purchase invoice being adjusted.
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Emily
1 year ago
A) July 15, 2020
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Audra
1 year ago
I'm not sure about that. I think the batch job would select the date of August 8, 2020 since that's when the freight charges were posted.
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Mabel
1 year ago
I agree with Tommy. The adjustment entry related to July should be based on the July 15, 2020 purchase invoice.
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Tommy
1 year ago
I think the date selected would be July 15, 2020.
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