Inventory of goods refers to the enterprise to complete all the production process and has been accepted into the warehouse, in accordance with the standard specifications and technical conditions, in accordance with the conditions of the contract can be delivered to the ordering unit, or can be sold as goods, and outsourcing or commissioned to process the completion of the acceptance of the various commodities in the warehouse for sale.
For the month-end inventory carrying cost, the accounting entries are as follows:
Borrow: the main business cost.
Credit: Inventory goods.
Meanwhile, you can practice this case:
A shopping mall uses the gross margin method of accounting, April 1, 2009, 18 million yuan of daily necessities inventory, 40 million yuan of purchases this month, 40 million yuan of sales proceeds this month, sales discount of 5 million yuan, the last quarter of the type of merchandise gross profit margin of 20%. How do you calculate the cost of goods sold during the period and the cost of goods on hand at the end of the month?
Cost of goods sold = net sales - gross profit on sales.
Net sales = 4000-500 = 35 (million) dollars.
Gross profit on sales = 3500 x 20% = 7 (million) dollars.
Cost of sales = 3500 - 700 = 28 (million) yuan.
Or cost of goods sold = net sales x (1 - gross margin) = 3500 x (1 - 20%) = 28 (million) dollars.
Cost of inventory at the end of the period (key point) = Cost of inventory at the beginning of the period (known) + Cost of purchases during the period (known) - Cost of goods sold during the period (calculated) = 1800 + 4000 - 2800 = 30 (million) million dollars.
Accounting entries:
Borrow: cost of doing business 2800.
Credit: inventory 2800.
Accounting entries written for the end of the month inventory carrying costs, the above case is not only to talk about this, its calculation may be tested. More dry goods in accounting, subscribe to the course of counting beans, you will have an unexpected harvest.