NetSuite Exam ERP-Consultant Topic 9 Question 43 Discussion

Actual exam question for NetSuite's ERP-Consultant exam

Question #: 43
Topic #: 9

[All ERP-Consultant Questions]

Identify the steps for valuing an inventory item using the Standard Cost Costing method?

1. Rollup Standard Costs.

2. Enter Standard Cost at sublist level.

3. Revalue inventory and update Standard Costs.

A2, 3, 1

B3, 1, 2

C1, 3, 2

D2, 1, 3

Show Suggested Answer

Suggested Answer: B

by Freeman at Oct 18, 2023, 02:00 PM

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Allene

11 hours ago

Wait, we're supposed to value the inventory? I thought we just guessed the price and called it a day. *laughs* Clearly, I need to brush up on my standard cost costing skills.

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Ronald

4 days ago

Option A is the way to go! Gotta love those standard cost rollovers, am I right? *winks*

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Abraham

5 days ago

This is a tricky one! I'm torn between options A and D. Gonna have to think about this a bit more.

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Flo

6 days ago

Option B looks right, but I'm not entirely sure. Revaluing the inventory and updating the standard costs seems like the first step to me.

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Latonia

9 days ago

I think option C is the correct answer. The steps seem logical and make sense to me.

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Theodora

11 days ago

I see your point, Sabra. But I think C) 1, 3, 2 makes more sense as we should rollup Standard Costs first.

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Sabra

16 days ago

I disagree, I believe it should be B) 3, 1, 2 because we need to revalue inventory first.

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Pearly

17 days ago

I think the correct steps are A) 2, 3, 1.

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