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As the year draws to a close, it’s time to do inventory closing with
Microsoft Dynamics AX 2009. From an accounting perspective, this means settling
transactions between issues and receipts, as items can be issued at one value and
received at another value. 

While inventory close is no longer required when
using the standard cost method, it is required for other costing methods. 
With standard close, differences between the item’s standard cost (used for
issues) and receipt transactions will post to variance accounts, as determined,
resulting in inventory always valued at the standard cost.

So the following points apply to all costing
methods except standard costing:

• Inventory values are based on the running…

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