This field contains the current average cost of this item in local currency.
The program automatically updates the average cost every time you post an invoice or an inventory increase or decrease. It also updates the field when you run the Adjust Cost - Item Entries batch job.
The program calculates the average cost on the basis of the Cost Amount (Actual) field plus the Cost Amount (Expected) in the Value Entry table. The amount in this field is then divided by the sum of the quantities in the Item Ledger Entry Quantity field.