Adora Aline Alfiana
Vocational High School
surAKARTA
System of inventory control which is
continuously records all of the
change of inventory.
FIFO (First In First Out)
LIFO (Last In First Out)
AVERAGE
FIFO Method
The FIRST inventories
bought are the FIRST
ones to be sold, and
inventories which
bought later are sold
later.
The Form Of Inventory Card
Company’s Name
INVENTORY CARD
Accounting Period

Item Name :

DATE

DOC.
NUMBER

Page :
DESCRIP...
ABC Company has records as follow :
1st January 2012 : Beginning Balance of HP-1 is
30 unit at $10 each.
3rd January 2012 ...
Let’s Record
ABC Company
INVENTORY CARD
January, 2012
Item Name : HP-1

DATE

DOC.
NUMBER

Page : 1
IN

1

BALANCE

DESCRI...
Perpetual fifo
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Perpetual fifo

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Perpetual fifo

  1. 1. Adora Aline Alfiana Vocational High School surAKARTA
  2. 2. System of inventory control which is continuously records all of the change of inventory.
  3. 3. FIFO (First In First Out) LIFO (Last In First Out) AVERAGE
  4. 4. FIFO Method The FIRST inventories bought are the FIRST ones to be sold, and inventories which bought later are sold later.
  5. 5. The Form Of Inventory Card Company’s Name INVENTORY CARD Accounting Period Item Name : DATE DOC. NUMBER Page : DESCRIPTION IN UNIT PRICE TOTAL OUT UNIT PRICE TOTAL BALANCE UNIT PRICE TOTAL
  6. 6. ABC Company has records as follow : 1st January 2012 : Beginning Balance of HP-1 is 30 unit at $10 each. 3rd January 2012 : There is a purchase of HP-1 from Jay Company, 50 unit at $20 each. 4th January 2012 : There is a sales from Gold company, 40 unit at $22 each.
  7. 7. Let’s Record ABC Company INVENTORY CARD January, 2012 Item Name : HP-1 DATE DOC. NUMBER Page : 1 IN 1 BALANCE DESCRIPTION UNIT 2012 Jan OUT PRICE TOTAL UNIT PRICE TOTAL 3 Jay Comp. Jan50Opening $1000 $20 Balance, 30 unit @$10 1st : 4 Gold Comp. PRICE TOTAL 30 Op. Balance UNIT $10 $300 30 50 $10 $300 $20 $1000 30 $10 @$20 3rd Jan : Purchase, 50 unit $300 -10 $20 4th Jan : Sales, 40 unit @$22 $200 40 $20 $800

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