Oil prices

[camaroman]

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!!!!!

[mdishong]

And more part # changes to come going forward.....

[CADLOU]

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.

[Zep33]

LOL

[bigmac]

I'd LOL if it didn't sound so true

[camaroman]

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?

[PartScott]

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.

[Zep33]

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

[TimK]

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.