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Eric, You are right, I omitted the RS transaction. I will fix this in the next GL/I book printing. It is possible to have a variance on an RS transaction if you enter a transaction amount that does not agree with the standard cost that IM is using it processes the transaction. Otherwise, the variance would be zero. It is possible to have variances on RS transactions when you change standards. For example, if you issue an item when the standard is 1.00 and return it when the standard is 1.10, you make a "profit" just by returning the item. Normally, the amounts involved are so small that they are ignored. But, there may be times when the amounts justify entering a transaction amount that reflects the issue cost. This results in IM recording a variance that offsets the ficticious inventory gain.
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