Implement accurate Cost of Goods Sold (COGS) calculations using the Stateset API.
async
/await
) and REST APIs.unit_cost
on line items is crucial for later inventory valuation.
inventory
records (movements) for each receipt. Each record stores the quantity
and unit_cost
at that point in time. This historical cost layering is the foundation for accurate COGS methods like FIFO or Weighted Average. Updating the PO status closes the loop on the purchasing process.
inventory
cost layers based on your chosen method. Furthermore, remember to incorporate direct labor and overhead costs associated with the Work Order for a complete COGS picture.
inventory
movement records. Furthermore, remember to incorporate direct labor and overhead costs associated with the Work Order for a complete COGS picture.
calculateCOGSForWorkOrder_Simplified
function used the latest component cost. This is often insufficient for formal accounting. Stateset’s inventory
resource, by tracking individual movements with unit_cost
, provides the necessary data foundation to implement standard costing methods:
inventory
movements, apply the weighted average formula, and use this cost for subsequent consumptions until the next purchase.inventory
movements sorted by created_at
(or another relevant date field). Consume the oldest (FIFO) or newest (LIFO) cost layers first, tracking remaining quantities in each layer.inventory
resource data than shown in the simplified examples. You would typically fetch relevant inventory movements for a component, sort them appropriately, and apply the chosen costing logic to determine the value of consumed items.
try...catch
blocks around all API calls. Inspect the error
object. Stateset SDK errors often have error.response.data
containing details from the API.STATESET_API_KEY
is correct, loaded properly into the environment, and hasn’t expired or been revoked. Check API key permissions.error.response.data
for specific field errors. Ensure all required fields are provided, data types are correct (e.g., numbers vs. strings, ISO dates), and values are valid (e.g., status codes).get
, update
, or delete
calls (e.g., poId
, bomId
). Ensure the resource actually exists.cogs_method
) are provided correctly. Valid methods include ‘FIFO’, ‘LIFO’, ‘AVERAGE’. Check that numeric fields are numbers, not strings.