1.Inventory n. 存货，库存（c.f.stock英式英语用法） 常见词组 inventory turnover 存货周转率 inventory control 存货控制 beginning inventory初始存货 ending inventory 期末存货 take a physical inventory 盘库 常见的存货形式：
Type of business
Type of inventory
Merchandising company
Merchandise inventory 商品存货
Manufacturing company
Raw materials 原材料
Work in process（WIP）（处在生产过程中的）在制品，半成品
Finished goods成品
2.Inventory valuation存货的价值计量 cost n. 成本，费用 direct costs 直接成本 indirect costs 间接成本fixed costs 固定成本 cost accounting 成本会计 v. 花费 e.g. The office furniture of our company costs us $5,000. unit cost 单个成本 total cost 总成本
cost of sales （COS） = cost of goods sold（CGS）销货成本 sales revenue 销售收入 这两个词经常被放在一起做计算
Lecture examples: ①A company sold 15 computers for US$1000 each. 某公司以1000美元一台的价格售出电脑共15台。 Sales revenue: US$1,000×15 = US$15,000 ②A company sold 15 computers costing US$800 each for total US$15,000. 某公司销售出电脑15台，每台成本为800美元，共收入15,000美元。 cost of sales: US$800×15 = US$12,000 Dr.bank deposit15,000借：银行存款15,000 Cr.sales revenue 15,000贷：主营业务收入15,000 Dr.cost of sales12,000 借：主营业务成本12,000 Cr.inventory--computer12,000贷：库存商品—电脑12,000
3.初始成本计量 The inventory should be measured at cost. Cost includes the following: 采购成本purchase（price） 运费freight 存储storing cost 保险费insurance 税费tax 装卸费 loading and unloading cost e.g.During July, 2007, the company purchased 200 sets of sunshine brand printers at the price RMB￥410 each. RMB￥300 of freight were also paid. Dr. printer82,300 Cr. bank deposit 82,300 借：固定资产—打印机82300 贷：银行存款82300
4.发出存货的成本计量 Specific identification 个别计价法 unit cost × no. of unit = total cost Weighted average 加权平均法
unit
Unit cost （$）
Total cost （$）
Unit sold
Beginning inventory, May 1
500
10.00
5,000
any 1000 units among 1800
Purchase, May 7
800
10.50
8,400
Purchase, May 20
300
11.00
3,300
Purchase, May 26
200
11.20
2,240
Goods available for sale
1800
18,940÷1800 ≈10.52 ②
18,940 ①
Cost of goods sold
1000
10.52
10.52×1,000=10,520
Ending inventory, May 30
800
18,940－10,520 = 8,420
Moving average 移动平均法 First-in, First-out （FIFO） 先进先出法
unit
Unit cost（$）
Total cost（$）
Unit sold
Beginning inventory, May 1
500
10.00
5,000
500
Purchase, May 7
800
10.50
8,400
800
Purchase, May 20
300
11.00
3,300
200 out of 300
Purchase, May 26
200
11.20
2,240
Goods available for sale
1800
18,940
First 1500 units
Cost of goods sold
1500
（500×$10.00）+（800×$10.50）+ （200×$11.00）=15,600
Ending inventory, May 30
300
18,940－15,600=3,340
5.期末存货的计量 ending inventory Lower of cost or market rule （LCM rule） 成本与市场孰低法 Cost 成本 market value （fair value） 公允价值 carrying value账面成本 net realizable value可变现净值＝estimated sale price估计售价－related costs and tax估计销售费用和税金 * contract price合同价格 sales price销售价格 存货跌价准备的计提 Dr. management cost—Dr. management cost-loss on market price decline of inventories资产减值损失 Cr. reserve for market price decline of inventories 存货跌价准备 Lecture example: If the original cost of the inventory held by ABC company was US$2,000, and its estimated total sale price would be $2,100 and other expense for the sales would be $200. The net realizable value for those inventory: US$1,900=$2,100-$200 Dr. management cost-loss on market price decline of inventories100 Cr. reserve for market price decline of inventories100Lecture examples： At the beginning of the year, Linda company held 1500 desk lamps costing RMB￥50.00 each. During the year it purchased an additional 500 lamps for RMB￥55.00 each. The company sold 1800 units. You are required to compute the cost of goods sold and ending inventory and make the necessary journal entry for the business assuming FIFO method are use. By the end of the year, it was reported that the market price of this type of lamp has declined to RMB￥52.00 each. You are also required to prepare the necessary journal entry on December 31 for the company. ①inventory purchase Dr：inventory27500 Cr：bank deposit 27500（500*55） ②inventory sales （FIFO method will be used to calculate the CGS） cost of goods sold（CGS）=1500*50+300*55=91500 ending inventory=1500*50+500*55-91500=11000 Dr：bank deposit*** Cr.sales revenue*** Dr：cost of sales91500 Cr. inventory--desk lamp91500 ③reserve for market price decline of inventories net realizable value=200*52=10400 Dr: management cost-loss on market price decline of inventorie600（11000-10400） Cr. reserve for market price decline of inventories600