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This report includes:
- Quantity used
- Average product cost
- Total product cost
It also aggregates totals by product line, company, and overall usage during a selected time frame.
Accessing the Report
Navigate to: Tools > Reports > Inventory > Professional Inventory Usage
Report Sections Explained
Totals for All Product Sales
This section summarizes:
- Total Quantity: Number of professional-use items consumed.
- Average Cost: Average cost per item.
- Total Cost: Aggregate cost for all items used.
Quantity
This is the total number of items used by your business.
Tip: Drilling into the report shows usage per transaction.
Average Product Cost
Calculated using the average cost method:
mathematica
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Average Cost =
(Previous Inventory Value + Order Cost excl. Tax) /
(Previous Inventory Quantity + Order Quantity)
This approach smooths cost fluctuations over time.
Total Product Cost
This value is calculated as:
mathematica
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Total Product Cost = Quantity x Actual Cost
It represents the total expense incurred for each item used.
How This Report Helps
- Identify usage trends in professional products
- Improve accuracy in inventory forecasting
- Assist in budget planning and product reordering
