Does the product belong to the inventory? Is the inventory item inventory?

The product belongs to the inventory. A product is a product that has not been finalized after the raw materials have been put into production. Including products in the production process, semi-finished products that have been processed and put into storage but cannot be sold to the outside world.

1) Determine the cost of the product at the end of the month first, and then determine the cost of the finished product. This method refers to the use of a certain method to price the product at the end of the month, and then the total cost of the basic production at the end of the month minus the cost of the product at the end of the month can be calculated. The specific methods are:

The product is valued at the beginning of the year, the product is valued at a fixed cost, and the product is not priced.

2) Determine the cost of the finished product first, and then determine the cost of the product at the end of the month. This method is to calculate the finished product with historical cost, planned cost or fixed cost, and then calculate the product cost at the end of the month based on the aggregated basic total production cost minus the finished product cost. This method is rarely used in practice.

3) Determine the cost of finished products at the same time as the month-end product cost method. This method uses an appropriate allocation criterion to divide the cost of finished products with the cost of products in progress at the end of the month, so that the cost of products as finished and the cost of products in progress at the end of the month are calculated at the same time. Here's how:

Approximate yield method; quota ratio method, etc.

First of all, the product belongs to the inventory. On the balance sheet date, the balance of the production cost account (in product) is consolidated into the balance sheet inventory items.

The assumption of inventory cost flow is applicable to products in progress, and enterprises can allocate production costs between finished products and products by using methods such as the approximate output method.

The product belongs to the inventory. Because the inventory reflects the net realizable value of the inventory in the warehouse, in transit and in processing at the end of the period, including various materials, commodities, products in process, semi-finished products, packaging materials, low-value consumables, commodities issued by installments, consignment goods, consignment goods, etc.

The product belongs to the inventory. Theoretically, absolutely.

Definition of Inventory:

Inventory refers to the finished products or commodities held by an enterprise in its daily activities, the products in the production process, and the materials and materials used in the production process or the provision of labor services.

Definition of Inventory Items:

Inventory commodities refer to the products that have been inspected and received by the enterprise in the warehouse after completing the entire production process, meeting the standard specifications and technical conditions, and can be sent to the ordering unit in accordance with the conditions specified in the contract, or can be sold as commodities and various commodities purchased or commissioned to complete the inspection and receipt for sale.

The accounting requirements are different for the two:

Accounting requirements for inventory commodities: the accounting treatment of inventory commodity inventory surplus is basically the same as that of commodity purchases, before the cause is ascertained, the book record of the "inventory commodity" account should be adjusted through the account of "property loss and excess to be disposed of - current assets to be disposed of", and then transferred from the account of "property loss and excess to be disposed of - current asset loss and excess to be disposed of" to the relevant account in different circumstances after the reason is ascertained.

Accounting requirements for inventory: The criterion for determining whether an inventory belongs to the inventory of an enterprise is to see whether the enterprise has legal person property rights (or legal property rights) to the inventory. All items that belong to the enterprise in legal title at the date of inventory, regardless of where they are stored or in what state, should be recognized as the inventory of the enterprise.

On the contrary, all items whose legal property rights do not belong to the enterprise, even if they are stored in the enterprise, should not be recognized as the inventory of the belt or enterprise.

The scope of the two is different:

Range of items in stock:

Enterprises should set up an account of "inventory goods" to account for the increase or decrease of inventory goods and their balance. When the goods are inspected and received in the warehouse, they should be transferred from the "production cost" account to the "inventory goods" account; When selling inventory goods externally, the corresponding accounting treatment is carried out according to different sales methods; Inventory commodities such as erection construction projects should be transferred at their cost.

Inventory items are inventory. Inventory commodities refer to the goods that have been inspected and received by the enterprise after completing the entire production process and meeting the standard specifications and technical conditions, and can be sent to the ordering unit in accordance with the conditions specified in the contract, or can be sold as commodities and various commodities purchased or commissioned to complete the inspection and receipt of the warehouse for sale.

Enterprises should set up an account of "inventory goods" to account for the increase or decrease of inventory goods and their balance. When the goods are inspected and received into the warehouse, they should be transferred from the "production cost" account to the "inventory goods" account; When selling inventory goods outside the tank, the corresponding accounting treatment shall be carried out according to different sales methods; Inventory commodities such as construction in progress shall be transferred according to their cost. The detailed account of inventory commodities shall be set up according to the type, variety and specification of the inventory commodities of the enterprise.

If there are commodities stored in the sales department of the enterprise, commodities sent to the exhibition, and commodities that have been sent out and have not yet gone through the collection procedures, they should be separately set up for accounting.

Inventory commodities include: all the enterprise's own inventory commodities, including commodities stored in warehouses, stores and warehouses, commodities entrusted to other units for custody and consignment, and commodities for exhibitions.

The enterprise has completed all the production process and has been inspected into the warehouse, in line with the standard regulations and technical conditions, can be sent to the ordering unit in accordance with the conditions of the elimination ruler specified in the contract, or can be sold as a commodity and the purchase or commissioned processing to complete the inspection of various commodities for sale.

Accounting treatment of inventory goods: production enterprises; Commodity circulation enterprises usually use the gross profit margin method and the selling price amount accounting method to account for inventory.

Gross profit margin method: This method is a common method used by commodity circulation enterprises, especially commercial wholesale enterprises, to calculate the cost of goods sold in the current period and the cost of goods in inventory at the end of the period.

Commodity circulation enterprises due to the wide variety of commodities, if the cost of commodities is calculated by variety, the workload will be greatly increased, and generally speaking, the gross profit margin of similar commodities of commodity circulation enterprises is roughly the same, and the use of this inventory valuation method can not only reduce the workload, but also meet the needs of inventory management.

Gross Margin = (Gross Profit on Sales) 100% Net Sales = Sales Revenue - Sales Returns - Sales Discount Cost of Sales = Net Sales - Net Sales Gross Margin = Net Sales (1 - Gross Margin) Ending Inventory Cost = Inventory Cost at the Beginning + Cost of Purchases for the Period - Cost of Sales for the Period.

Category (1) Raw materials (2) Product-in-progress: Enterprises are manufacturing products that have not yet been dismantled. (3) Semi-finished products:

Note excludes in-house semi-finished products that are transferred from one production plant to another for further processing, as well as in-house semi-finished products that cannot be costed separately. (4) Inventory goods: the enterprise has completed the entire production process and inspected the warehouse, which can be sent to the ordering unit in accordance with the conditions specified in the contract, or can be sold as commodities.

It should be noted that the enterprise accepts the substitute products processed and manufactured by foreign raw materials and the substitute repair products processed and repaired by other units, and after the manufacturing and repair are completed and inspected into the warehouse, they should be regarded as the inventory goods of the enterprise. (5) Commodities: items available for sale.

Turnover materials: materials that can be used multiple times, gradually transfer their value, but still maintain their original form and are not recognized as fixed assets. Includes packages* and low-value consumables.

Note: In accounting, the materials used in packaging, such as paper, rope, iron wire, iron sheet, etc., should be accounted for as raw materials.

In the process of production and operation, the enterprise is used to store and keep products or commodities, materials, semi-finished products, parts and other packages that are not accompanied by products or commodities, leased or lent, such as packaging containers used by enterprises in the course of business turnover. These are classified as fixed assets or low-value consumables according to their value and service life. Special Attention:

Various materials reserved for the construction of fixed assets and other projects, i.e., construction materials, cannot be accounted for as inventory. The special reserves of enterprises and the assets of special reserves in accordance with national directives also do not conform to the concept of inventory, and do not belong to the inventory of enterprises. That's all about the legal knowledge in this area, I hope it will be helpful to you.

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1.What is in stock?

Inventory includes materials in transit, raw materials, products in process, inventory goods, issued goods, commissioned processing materials, turnover materials, purchased goods, collaborative parts, self-made semi-finished products, finished products, etc.

2.What is Inventory?

Inventory refers to the finished products or commodities held by an enterprise in its daily activities for the purpose of being sold in the number of answers, the products in the production process that are first cleared in the production process, and the materials and materials used in the production process or the provision of labor services.

3.Conditions for the recognition of inventory.

The economic skews associated with the inventory are likely to flow into the enterprise; The cost of this inventory can be reliably measured.