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Financial Terms | |
Ending inventory |
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Definition of Ending inventoryEnding inventoryThe dollar value or unit total of goods on hand at the end of an
Related Terms:Average-Cost Inventory MethodThe inventory cost-flow assumption that assigns the average First-In, First-Out (FIFO) Inventory MethodThe inventory cost-flow assumption that Last-in, first-out (LIFO)An inventory costing methodology that bases the recognized cost of Last-In, First-Out (LIFO) Inventory MethodThe inventory cost-flow assumption that assigns the most recent inventory acquisition costs to cost of goods sold. The earliest inventory SPECIFIC INVOICE PRICESAn inventory valuation method in which a company values the items in its ending inventory based units started and completedthe difference between the number of units completed for the period and the units in beginning inventory; it can also be computed as the number of units started during the period minus the units in ending inventory WEIGHTED AVERAGEAn inventory valuation method that calculates a weighted average cost per unit for all the goods available for sale. ![]() ABC inventory classificationA method for dividing inventory into classifications, Average inventoryThe beginning inventory for a period, plus the amount at the end of Blanket inventory lienA secured loan that gives the lender a lien against all the borrower's inventories. Book inventoryThe amount of money invested in inventory, as per a company’s Days' sales in inventory ratioThe average number of days' worth of sales that is held in inventory. Distribution inventoryinventory intended for shipment to customers, usually dollar days (of inventory)a measurement of the value of inventory for the time that inventory is held Finished goods inventoryGoods that have been completed by the manufacturing Finished goods inventoryCompleted inventory items ready for shipment to ![]() fixed overhead spending variancethe difference between the total actual fixed overhead and budgeted fixed overhead; Flexible Spending AccountA form of cafeteria plan allowing employees to pay Fluctuation inventoryExcess inventory kept on hand to provide a buffer against Hedge inventoryExcess inventories kept on hand as a buffer against contingent In-transit inventoryinventory currently situated between its shipment and delivery Inactive inventoryParts with no recent prior or forecasted usage. InventoryFor companies: Raw materials, items available for sale or in the process of being made ready for InventoryGoods bought or manufactured for resale but as yet unsold, comprising raw materials, work-in-progress and finished goods. InventoryThe cost of the goods that a company has available for resale. InventoryGoods that a firm stores in anticipation of its later sale or use as an input. InventoryThe cost of unsold goods that are held for sale in the ordinary course of business or ![]() InventoryThose items included categorized as either raw materials, work-inprocess, Inventory adjustmentA transaction used to adjust the book balance of an inventory Inventory DaysThe number of days it would take to sell the ending balance in inventory at the Inventory diversionThe redirection of parts or finished goods away from their intended Inventory issueA transaction used to record the reduction in inventory from a location, Inventory loanA secured short-term loan to purchase inventory. The three basic forms are a blanket Inventory receiptThe arrival of an inventory delivery from a supplier or other Inventory returnsinventory returned from a customer for any reason. This receipt inventory shrinkageA term describing the loss of products from inventory Inventory ShrinkageA shortfall between inventory based on actual physical counts and inventory Inventory turnoverThe ratio of annual sales to average inventory which measures the speed that inventory INVENTORY TURNOVERThe number of times a company sold out and replaced its average stock of goods in a year. The formula is: Inventory turnoverThe number of times per year that an entire inventory or a Inventory TurnoverRatio of annual sales to inventory, which shows how many times the inventory of a firm is sold and replaced during an accounting period. inventory turnover ratioThe cost-of-goods-sold expense for a given Inventory Turnover RatioProvides a measure of how often a company's inventory is sold or inventory write-downRefers to making an entry, usually at the close of a Investment SpendingExpenditures on capital goods including new housing. Financial ''investments" and sales of existing assets are not included. Just-in-time inventory systemsSystems that schedule materials/inventory to arrive exactly as they are Lending PolicyA course of action adopted by a financial institution to guide and usually determine present and future decisions in the light of given conditions. Maximum inventoryAn inventory item’s budgeted maximum inventory level, MERCHANDISE INVENTORYThe value of the products that a retailing or wholesaling company intends to resell for a profit. Minimum inventoryAn inventory item’s budgeted minimum inventory level. Moving average inventory methodAn inventory costing methodology that calls for the re-calculation of the average cost of all parts in stock after every purchase. Net inventoryThe current inventory balance, less allocated or reserved items. Obsolete inventoryParts not used in any current end product. overhead spending variancethe difference between total actual overhead and total budgeted overhead at actual Periodic inventoryA physical inventory count taken on a repetitive basis. Periodic inventory systemAn inventory system in which the balance in the inventory account is adjusted for the units sold only at the end of the period. Perpetual inventoryA system that continually tracks all additions to and deletions Perpetual inventoryA manual or automated inventory tracking system in which Perpetual inventory systemAn inventory system in which the balance in the inventory account is adjusted for the units sold each time a sale is made. Physical inventoryA manual count of the on-hand inventory. Raw materials inventoryThe total cost of all component parts currently in stock that Reconciling inventoryThe process of comparing book to actual inventory balances, Seasonal inventoryVery high inventory levels built up in anticipation of large Spot lendingThe origination of mortgages by processing applications taken directly from prospective borrowers. Surplus inventoryParts for which the on-hand quantity exceeds forecasted variable overhead spending variancethe difference between total actual variable overhead and the budgeted amount of variable overhead based on actual input activity vendor-managed inventorya streamlined system of inventory Vendor-managed inventoryThe direct management and ownership of selected Work-in-process inventoryinventory that has been partially converted through the Change in Accounting EstimateA change in the implementation of an existing accounting Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |