Oil prices

Oil prices

Postby camaroman » Thu Jun 18, 2020 7:19 pm

So we get an email last night June 17th at 6:11 EST saying that some oil prices are changing effective June 16th. Nothing like being notified prior to the change. Invoiced for the old price today, so I imagine they go by delivery date since we received the oil last week. Gotta love that great GM feeling!!!!!
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Re: Oil prices

Postby mdishong » Thu Jun 18, 2020 7:28 pm

And more part # changes to come going forward..... :evil:
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Re: Oil prices

Postby CADLOU » Fri Jun 19, 2020 12:04 pm

GM #1, "Hey what can we do today for fun?"
GM #2, "Don't know. We put out the Bulletin last week about the scratch on the interior trunk mat."
GM #1, "Yes, Those dealerships were pissed when I slapped a do not sale on them till they replace the mat!"
GM #2, "Especially when the parts on backorder till October of next year!! hahaha"
Gm #1, "Hey I know lets change the price of something and make it effective two days ago!"
GM #2, "Yes! and lets tell them tomorrow about the change!"

Yea that sounds about how it goes on.
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Re: Oil prices

Postby Zep33 » Fri Jun 19, 2020 12:14 pm

LOL
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Re: Oil prices

Postby bigmac » Fri Jun 19, 2020 1:46 pm

I'd LOL if it didn't sound so true :(
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Re: Oil prices

Postby camaroman » Mon Jul 13, 2020 1:45 pm

So what is the right way to handle the increase or decrease in your opinion? I do a manual price adjustment and pass it on to accounting. The controller feels that we should be averaging the cost not changing it to the current GM cost. What do you guys do?
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Re: Oil prices

Postby PartScott » Mon Jul 13, 2020 2:13 pm

camaroman wrote:So what is the right way to handle the increase or decrease in your opinion? I do a manual price adjustment and pass it on to accounting. The controller feels that we should be averaging the cost not changing it to the current GM cost. What do you guys do?

I do the same thing that you do. Price is changed on the effective date and I let accounting know of an inventory value change...no different than a monthly price tape update.
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Re: Oil prices

Postby Zep33 » Tue Jul 21, 2020 4:34 pm

PartScott wrote:
camaroman wrote:So what is the right way to handle the increase or decrease in your opinion? I do a manual price adjustment and pass it on to accounting. The controller feels that we should be averaging the cost not changing it to the current GM cost. What do you guys do?

I do the same thing that you do. Price is changed on the effective date and I let accounting know of an inventory value change...no different than a monthly price tape update.


I don't even bother telling accounting. It shows up in the appreciation / depreciation at the end of the month anyway.

That way they can't tell me to do what they're trying to tell camaroman to do LOL
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Re: Oil prices

Postby TimK » Tue Jul 21, 2020 7:10 pm

Zep33 wrote:I don't even bother telling accounting. It shows up in the appreciation / depreciation at the end of the month anyway.

That way they can't tell me to do what they're trying to tell camaroman to do LOL


Exactly.
They will find out eventually and won't know when they find out.
Business as usual.
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