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 ?
The remaining data we need for the report includes Total Needs by Part, Less Beginning Inventory by Part, Direct Materials to be Purchased by Part, Cost per Unit of Direct Materials by Part, and Cost of Direct Materials to be Purchased by Part.
As an alternative, the IRS stated that the retail-inventory method could achieve the same result by permitting taxpayers to reduce the numerator (the cost of beginning inventory and the cost of purchases) of the cost-to-retail ratio for all non-sales- based allowances, discounts, or price rebates, including markdown allowances, but requiring a reduction of the denominator (the retail selling price of beginning inventory plus the retail selling price of purchases) of the cost-to-retail ratio for all permanent markdowns related to mark-down allowances.
In the interim, however, LaCrosse does provide substantial authority for a taxpayer that made a bargain purchase of inventory in a tax year for which it has not yet filed a tax return, to value the bargain-purchased inventory at FMV and treat it as beginning inventory.
These factors were partially offset by a favorable impact of the RIM change and higher average mark-ups on beginning inventory in the 2005 period as compared with the 2004 period.
The first query sets the first Beginning Inventory values and appends them to the Budget Table.
When a buyback is posted into the Prescient system, it sets a beginning inventory and buyback date from which shrink and invoices are then calculated.
In order to calculate Production Budget, we will need to store the fields that we use to calculate it: Ending Inventory and Beginning Inventory.
33,675,000 Cost of goods sold Beginning inventory (55,000,000) 0.
6 million gain on beginning inventory values, deferred from last quarter, is recognized this quarter and is offset by the deferral of ending inventory excess market value of $33.
When creating the Production Budget for 2010, inventory on hand at the end of 2009-807 for basic bicycles in this example--should be used as beginning inventory for Quarter 1 (Q1).
If a change is made, the beginning inventory for the year of change is reduced to its net purchase price.
Cost of sales for SWU is determined by a combination of the beginning inventory level and its cost, production costs and purchase costs from Russia.

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