beginning inventory

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Related to beginning inventory: Average Inventory, Ending Inventory

Beginning Inventory

Goods and materials available for sale at the beginning of an accounting period or fiscal year. Comparing the beginning inventory to the ending inventory may help a company determine whether it overestimated the materials it needs to operate, or customers' demand for its products. They may use these figures to estimate future sales and therefore future inventory. See also: Inventory turnover.

beginning inventory

Goods available for sale at the beginning of an accounting period. Compare ending inventory.
References in periodicals archive ?
00 Sum for the Beginning Inventory and Purchases for the Month Step 2 Step 2 Add the Food in Production $ 150.
The beginning inventory, stated at the 1991 year-end price level, is $21,000.
This information includes inventory holding cost, marginal stock for stock out, marginal cost of subcontracting, hiring and training cost, lay-off cost, labour hours required, straight line cost, overtime cost, beginning inventory, size of workforce and safety stock coefficient.
As a result, the door seems slightly ajar for the taxpayer to allocate a reasonable portion of a bargain price to inventory and freezing it as beginning inventory.
Since the previous period's ending inventory value becomes the next period's beginning inventory value, we will use the Part table to get the value for the first quarter to create data for Beginning Inventory.
471-8 defines the cost-to-retail ratio as the ratio of the value of the beginning inventory plus the cost of purchases to the retail selling price of the beginning inventory plus the initial retail selling prices of purchases, which may be illustrated by the formula in Exhibit 1.
The difference in the beginning inventory for 20X5 would cause net income to decrease by $400, while the difference in the 20X5 ending inventory would cause net income to increase by $4,000.
The novice also learns which values should be utilized for the fiduciary's beginning inventory.
Assume a dealer's beginning inventory on January 1, 1992, consists of 50 new cars (1992s with regular brakes), for which he paid $10,000 apiece.
TAXPAYER'S METHOD: Ending inventory is computed, as follows: Base Year Cost Earliest Cost LIFO Unit Total Unit Total Index Year Item Units Cost (X) Cost (Y) (Y/X) 1992 B 100 $20 $2,000 $20 $2,000 100% 1992 Base Year LIFO Cost Index Value Beginning Inventory $ 0 N/A $ 0 Layer 1 2,000 100% 2,000 Ending Inventory $2,000 $2,000 LIFO Value ($25 X 100) = $2,500 LIFO Value 2,000 LIFO Reserve $ 500 IRS METHOD: Units manufactured after the purchase (C) would be treated as separate from the bargain purchase units (B).
COGS can be said to be the beginning inventory plus the purchases minus the ending inventory - COGS = BI + P - EI.

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