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Inventory Reserve |
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Inventory Reserve An accounting entry that represents a deduction from earnings for the purpose of fairly and reasonably representing the value of inventoried assets on a balance sheet. The inventory reserve is used to make up for the fact that all inventory will not be sold at the cost to the firm. Notes: An inventory reserve is a contra account on a balance sheet, and an important part of inventory accounting in GAAP. |
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? Mentioned in | ? References in periodicals archive | |
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The current period net income includes a benefit of $3,251,956 relating to income taxes, a charge of $307,867 for increasing the inventory reserve and, as required by GAAP accounting rules, a charge of $316,906 for estimated losses on sales contracts we have entered into but not yet shipped. A 60 basis point improvement in the margin rate was the result of price increases and lower inventory reserve requirements. 05 per diluted share, which included an inventory reserve of $739,000 reflected in cost of goods sold for the Company's SAGE Oxygen Therapeutic Device, whose sales have not met expectations. |
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Inventory Reserve