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Question from Suren on Apr 21 at 8:16 AM Dear Team,
I work in a commodity market. Purchase Order prices are determined at the end on the month of trading. Typical pricing formula eg : Price = Average of current month quotations. Hence PO is raised and receipted at say last months average. Then at monthend the current month average is determined. This becomes the price payable to the supplier. Can the PO's in this case be repriced to the price as per monthend? And can the corresponding liability entries updated? We currently have to process journals to correct.
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