4.3.

4 Identifying the cost ofinventory

As with all things pertaining to money there are generally

accepted rules as to how transactions are handled in the
accounting process. This helps to ensure that everyone is
on the same page, so to speak, with the accounting
process. In this regard there are three generally accepted
methods to identify inventory costs.

It is recommended that you use the "specific

identification" method when possible. This method
identifies the cost of each inventory item separately,
which may seem cumbersome.It is really only
appropriate for high-value items, such as cars and
furs.This method will most likely be inappropriate for
many organisations.The alternative is to adopt one of the
cost flow methods, which are:

"First in, first out," called FIFO – the first unitof an

inventory item to come in is the first to go out, hopefully
minimising its time on the shelf.
"Last in, first out," called LIFO – the last unit of an
inventory item to come in is the first to go out.
Weighted average cost – each inventory item is valued at
the average cost priceof the units on hand.
These particular methods address the sequence in which
you assign the costs to goods sold, not the actual physical
flow of goods. LIFO has various sub-methods that give
you different ways to account for costs. Prices generally
rise under normal circumstances, so choosing the LIFO
method usually results in the highest cost of goods sold
and the lowest taxable income. This of course is good for
the organisation’s bottom line.

That said, in the UK and many other jurisdictions, the use

of LIFO for calculating taxable income is strictly
prohibited. Indeed, the preferred inventory valuation
method is weighted average cost.

It must be noted that there are various costs associated

with buying, storing and not having inventory. The
following are some examples of these costs:
Carrying cost – which is the cost of holding an item in
inventory and includes costs such as warehouse rent,
insurance, and handling expenses
Ordering cost – which is the cost of replenishing
inventory when it becomes depleted
Shortage cost – which is the temporary or permanent
loss of sales when the demand cannot be met

4.3.4 Utvrđivanje troškova inventara

Kao i kod svih stvari koje se odnose na novac, postoje

opće prihvaćena pravila o tome kako se obrađuju
transakcije u procesu računovodstva. To pomaže da se
osigura da je svatko na istoj stranici, da tako kažemo, s
procesom računovodstva. U tom smislu postoje tri opće
prihvaćene metode za utvrđivanje troškova inventara.

Preporučuje se da koristite metodu "specifične

identifikacije" kada je to moguće. Ova metoda zasebno
identificira trošak svake stavke inventara, što može
izgledati glomazno. To je stvarno prikladno samo za
predmete visoke vrijednosti, kao što su automobili i
krzno. Ova metoda će najvjerojatnije biti neprikladna za
mnoge organizacije. metoda protoka troškova, a to su:

"Prvo u, prvi van", nazvan FIFO - prva jedinica u inventaru

koja se pojavljuje je prva koja izlazi, nadamo se
minimizirajući svoje vrijeme na polici.
"Last in, first out", nazvan LIFO - posljednja jedinica
stavke inventara koja treba ući je prva koja izlazi.
Ponderirani prosječni trošak - svaka stavka inventara
vrednuje se po prosječnoj cijeni jedinica pri ruci.
Ove posebne metode rješavaju redoslijed kojim troškove
pripisujete prodanoj robi, a ne stvarni fizički protok robe.
LIFO ima različite pod-metode koje vam daju različite
načine za obračun troškova. Cijene obično rastu u
normalnim okolnostima, tako da odabir metode LIFO
obično rezultira najvišom cijenom prodane robe i
najnižom oporezivom dobiti. Ovo je, naravno, dobro za
donju granicu organizacije.
Međutim, u Velikoj Britaniji i mnogim drugim
jurisdikcijama uporaba LIFO-a za izračunavanje
oporezivog dohotka strogo je zabranjena. Uistinu,
preferirana metoda vrednovanja zaliha je ponderirani
prosječni trošak.

Mora se napomenuti da postoje različiti troškovi

povezani s kupnjom, skladištenjem i nepostojanjem
inventara. Slijedi nekoliko primjera tih troškova:

Knjigovodstveni trošak - trošak držanja stavke u zalihama

i uključuje troškove kao što su najam skladišta, osiguranje
i troškovi rukovanja
Trošak naručivanja - što je trošak obnavljanja zaliha kada
se iscrpi
Nedostatak troškova - što je privremeni ili trajni gubitak
prodaje kada se potražnja ne može zadovoljiti