What are the accounting entries of inventory?

Enterprises generally take a regular inventory system to check inventory, and the inventory result may be inventory surplus or inventory deficit. How to make accounting entries when counting inventory?

Inventory entry

Inventory surplus, before approval:

Borrow: raw materials/inventory goods, etc.

Loan: loss and surplus of pending property.

After approval:

Borrow: Loss and overflow of pending property.

Loan: management fee

Loss or damage of inventory before approval:

Borrow: Loss and overflow of pending property.

Loans: raw materials (goods in stock)

After approval:

Borrow: non-operating expenses or management expenses

receivable other

Loan: loss and surplus of pending property.

The loss and surplus of the property to be handled is an accounting subject, which belongs to the asset category, and accounts for the inventory gains, losses and damages of various property materials that have been confirmed by enterprises in the inventory process. There are often two detailed subjects in the subject of pending property loss and surplus, namely "pending fixed assets loss and surplus" and "pending current assets loss and surplus". The loss and surplus of the pending property are directly related to the assets before reporting for approval, and directly related to the current loss and surplus after reporting for approval.

Inventory counting refers to a special method to determine the actual quantity of inventory through field counting and check it with the book balance to determine whether the actual quantity of inventory is consistent with the book balance.

What is the inventory method?

Inventory method refers to enterprises? A special method to determine whether the actual inventory holding is consistent with the book balance by taking a physical inventory and checking it with the book balance. Generally speaking, there are two methods of inventory, one is periodic inventory system, and the other is perpetual inventory system.