This document provides information about inventory accounting, including definitions of different types of inventory, methods for valuing inventory, and techniques for estimating inventory costs. It discusses inventory owned by trading companies versus manufacturing companies. It also covers concepts like FOB shipping point, FOB destination, inventory cost flow assumptions under FIFO, LIFO, and average costing methods, as well as lower of cost or market valuation. Methods for estimating inventory costs described include the retail method and gross profit method.

1. ChapterChapter 99
InventoriesInventories
Accounting, 21st
Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting
Pepperdine University
© Copyright 2004 South-Western, a division
of Thomson Learning. All rights reserved.
Task Force Image Gallery clip art included in this
electronic presentation is used with the permission of
NVTech Inc.

2. What is Inventory ?
Barang yang dibeli untuk dijual kembali
Dengan atau tanpa melalui pengolahan terlebih
dahulu
• Barang yang siap dijual (Barang Jadi)
•Barang dalam Proses untuk tujuan dijual (barang
dalam Proses
•Barang yang akan dipakai dalam kegiatan produksi
perusahaan (Bahan Baku)

3. SUPERMARKET
(Perusahaan Dagang)
Inventory Aktiva tetap

4. Whose Inventory is it ?
Barang Dalam Gudang Barang Dalam Perjalanan ?
FOB SHIPPING POINT FOB DESTINATIONBarang Konsinyasi?

5. FOB Shipping point
PembeliPenjual
Kepemilikan pindah
Milik
pembeli

6. FOB destination
Pembeli
Penjual
Kepemilikan pindah
Milik penjual Milik pembeli

7. PENILAIAN INVENTORY
Inventory
COST
LCM
ESTIMASI
FIFO
LIFO
Average
Special
Identification Individual
Kelompok
Total
RETAIL METHOD
Gross Profit Method

8. Metode Penentuan Harga Pokok
Barang Terjual dan Pesediaan Akhir
Identifikasi
khusus
Rata-rataLIFOFIFO
Yang
Pertama
Dibeli
Pertama
dijual
Yang
Terakhir
Dibeli
Pertama
dijual
Setiap
Barang
Dikenali
Costnya
Barang
Yang
Dijual
Ngacak
Asumsi Asumsi Asumsi

9. Purchased
goods
Purchased
goods
Sold
goods
Sold
goods
First In First OutFirst In First OutFirst In First OutFirst In First Out

10. Purchased
goods
Purchased
goods
Sold
goods
Sold
goods
Inventory Cost Flow AssumptionsInventory Cost Flow AssumptionsInventory Cost Flow AssumptionsInventory Cost Flow Assumptions

11. Purchased
goods
Purchased
goods
Sold
goods
Sold
goods
Inventory Cost Flow AssumptionsInventory Cost Flow AssumptionsInventory Cost Flow AssumptionsInventory Cost Flow Assumptions

12. Fifo
Periodic

13. Sistem Periodik
Pada saat menjual barang tidak ditentukan harga pokok
barang yang dijual
Pada akhir periode ditentukan unit persediaan yang ada
dan yang dijual
Pada akhir periode ditentukan harga pokok barang yang
dijual dan persediaan yang ada

14. Tgl Keterangan Unit Cost/unit Jumlah
Jan 1 Persediaan 200 $ 10 $2,000
12 Pembelian 400 $ 12 $4,800
26 Pembelian 300 $ 11 $3,300
30 Pembelian 100 $13 $1,300
Jumlah 1.000 $11,400
Terjual = 700 Unit Persediaan 300 unit
Fifo
200 x $ 10 = $2,000
400 x $ 12 = $4,800
100 x $ 11 = $1,100
$7,900
100 x $ 13 = $1,300
200 x $ 11 = $2,200
$3,500
$11,400

15. Jan. 1
200 units at $10
Summary of Fifo PeriodicSummary of Fifo Periodic
Jan. 12
400 units at $12
Jan. 26
300 units at $11
Jan. 30
100 units at $13
$2,000
$4,800
$3,300
$1,300
Purchases
Merchandise
Available
for Sale
$2,000
$4,800
$1,100
Cost of
Merchandise
Sold
200 units at $10
$11,400$11,400 $2,200
$1,300
$7,900$7,900
Merchandise
Inventory
$3,500$3,500
400 units at $12
100 units at $11
200 units at $11
100 units at $13
1,000 units
700 units
300 units

16. Lifo
Periodic

17. Tgl Keterangan Unit Cost/unit Jumlah
Jan 1 Persediaan 200 $ 10 2,000
12 Pembelian 400 $ 12 4,800
26 Pembelian 300 $ 11 3,300
30 Pembelian 100 $13 1,300
Jumlah 1.000 11,400
Terjual = 700 Unit Persediaan 300 unit
Lifo
100 x $ 13 = $1,300
300 x $ 11 = $3,300
300 x $ 12 = $3,600
$8,200
200 x $ 10 = $2,000
100 x $ 12 = $1,200
$3,200
$11,400

18. Summary of Lifo PeriodicSummary of Lifo Periodic
$2,000
$4,800
$3,300
$1,300
$2,000
Cost of
Merchandise
Sold
200 units at $10
$11,400$11,400
$3,300
$1,300
$3,200$3,200
$8,200$8,200
100 units at $12
300 units at $12
300 units at $11
100 units at $13
$3,600
700 units
1,000 units
300 units
Purchases
Merchandise
Available
for Sale
$1,200
Merchandise
Inventory
Jan. 1
200 units at $10
Jan. 12
400 units at $12
Jan. 26
300 units at $11
Jan. 30
100 units at $13

20. Tgl Keterangan Unit Cost/unit Jumlah
Jan 1 Persediaan 200 $ 10 2,000
12 Pembelian 400 $ 12 4,800
26 Pembelian 300 $ 11 3,300
30 Pembelian 100 $13 1,300
Jumlah 1.000 11,400
Persediaan 300 unit
Average
Cost Rata-rata per unit = $11,400 / 1.000 = $11.4
Persediaan Yang terjual = 700 $11.4 $7,980x =
Persediaan akhir = 300 $11.4 $3,420x =
$11,400

21. Sistem Perpetual
Pada saat menjual barang ditentukan harga pokok barang
yang dijual
Perlu bantuan daftar ( Kartu )

22. Data Persediaan
Tanggal Keterangan Unit Harga beli per
unit
Jan. 1 Persediaan 200 $ 10
12 Pembelian 400 $ 12
17 Dijual 300
26 Pembelian 300 $ 11
27 Dijual 200
28 Dijual 200
30 Pembelian 100 $ 13
Harga jual per unit $20

24. Tgl
Dibeli Dijual/COGS Persediaan
Unit Hg/unit Jumlah Unit Hg/unit Jumlah Unit Hg/unit Jumlah
2005
Jan 1 200 10 2,000
12 400 12 4,800
400 12 4,800
200 10 2,000
17 200 10 2,000 300 12 3,600
100 12 1,200
26 300 11 3,300
300 11 3,300
300 12 3,600
27 200 12 2,400 100 12 1,200
300 11 3,300
28 100 12 1,200 200 11 2,200
30 100 13 1,300
100 13 1,300
200 11 2,200
100 11 1,100
FIFO

26. Tgl
Dibeli Dijual Persediaan
Unit Hg/unit Jumlah Unit Hg/unit Jumlah Unit Hg/unit Jumlah
2005
Jan 1 200 10 2,000
12 400 12 4,800
400 12 4,800
200 10 2,000
17 300 12 3,600 200 10 2,000
26 300 11 3,300
100 12 1,200
200 10 2,000
27 200 11 2,200 200 10 2,000
100 12 1,200
28 100 11 1,100 200 10 2,000
30 100 13 1,300
100 13 1,300
200 10 2,000
100 12 1,200
LIFO
100 12 1,200
300 11 3,300
100 11 1,100

28. Tgl
Dibeli Dijual Persediaan
Unit Hg/unit Jumlah Unit Hg/unit Jumlah Unit Hg/unit Jumlah
2005
Jan 1
200 10 2,000
12 400 12 4,800 600 11.33 6,800
17 300 11.33 3,399 300 11.34 3,401
26 300 11 3,300 600 11.17 6,701
27 200 11.17 2,234 400 11.17 4,467
28 200 11.17 2,234 200 11.17 2,233
30 100 13 1,300 300 11.78 3,533
AVERAGE

29. LCM bisa dihitung berdasar:
• Jenis Inventory (Individual LCM)
• Kelompok Inventory
• Total Inventory
LOWER OF COST OR MARKET
(LCM/LOCOM)

30. Jika Cost < Market
Tidak Perlu Jurnal
Perlu Jurnal
Jika Cost > Market
Jurnal Penyesuaian
• Loss of Declining Inventory xxx
Merchandise Inventory xxx

31. $ 3,800
2,700
4,650
3,920
Total $15,520 $15,472 $15,070
Valuation of Inventory atValuation of Inventory at
Lower-of-Cost-or-MarketLower-of-Cost-or-Market
Kelompok I
A 400 $10.25 $ 9.50 $ 4,100 $ 3,800
B 120 22.50 24.10 2,700 2,892
520 6,800 6,692
Kelompok II
C 600 8.00 7.75 4,800 4,650
D 280 14.00 14.75 3,920 4,130
880 8,720 8,780
Unit Unit
Inventory Cost Market Total Total Lower
Item Quantity Price Price Cost Market C or M

32. Assets
Current assets:
Cash $ 19 400 00
Accounts receivable $80 000 00
Less allowance for
doubtful accounts 3 000 00 77 000 00
Merchandise inventory
at lower of cost (first-in,
first-out method) or market 216 300 00
Metro-Arts
Balance Sheet
December 31, 2007
Presentation of Merchandise Inventory
on the Balance Sheet

33. Estimating Inventory CostEstimating Inventory CostEstimating Inventory CostEstimating Inventory Cost

34. Menaksir cost Inventory
Metode Harga Eceran
(Retail Price Method)
Metode laba Kotor
(Gross Profit Method)

35. Retail Method of Estimating Inventory CostRetail Method of Estimating Inventory Cost
 Metode Menentukan harga pokok persediaan
berdasarkan estimasi harga eceran
 Tentukan Harga Eceran atas persediaan awal dan
Pembelian selama periode
 Hitung Barang yang tersedia untuk dijual (menurut
harga pokok dan harga eceran dihitung)
 Dihitung rasio cost terhadap retail price
 Tentukan Penjualan (menurut retail price) selama satu
periode (dari pita yang ada pada cash register)
 Tentukan Persediaan akhir at retail yaitu barang tersedia
untuk dijual dikurangi penjualan
 Hitung persediaan at cost dengan cara persediaan at
retail dikali dengan ratio cost terhadap retail price

36. Retail Inventory MethodRetail Inventory MethodRetail Inventory MethodRetail Inventory Method
Step 1:Step 1: Determine the ratio ofDetermine the ratio of
cost to the retail price.cost to the retail price.
Step 1:Step 1: Determine the ratio ofDetermine the ratio of
cost to the retail price.cost to the retail price.
Cost Retail
Merchandise inventory, Jan. 1 $19,400 $ 36,000
Purchases in January (net) 42,600 64,000
Merchandise available for sale $62,000 $100,000
Ratio of cost to retail price =
$62,000
$100,000
= 62%

37. Retail Inventory MethodRetail Inventory MethodRetail Inventory MethodRetail Inventory Method
Step 2:Step 2: Determine the endingDetermine the ending
inventory at retail.inventory at retail.
Step 2:Step 2: Determine the endingDetermine the ending
inventory at retail.inventory at retail.
Sales for January (net) 70,000
Merchandise inventory, January 31, at retail $ 30,000
Cost Retail
Merchandise inventory, Jan. 1 $19,400 $ 36,000
Purchases in January (net) 42,600 64,000
Merchandise available for sale $62,000 $100,000

38. Retail Inventory MethodRetail Inventory MethodRetail Inventory MethodRetail Inventory Method
Step 3:Step 3: Calculate the estimatedCalculate the estimated
inventory at cost.inventory at cost.
Step 3:Step 3: Calculate the estimatedCalculate the estimated
inventory at cost.inventory at cost.
Merchandise inventory, January 31, at cost
($30,000 x 62%) $18,600
Sales for January (net) 70,000
Merchandise inventory, January 31, at retail $ 30,000
Cost Retail
Merchandise inventory, Jan. 1 $19,400 $ 36,000
Purchases in January (net) 42,600 64,000
Merchandise available for sale $62,000 $100,000

39. Gross Profit Method of EstimatingGross Profit Method of Estimating
Inventory CostInventory Cost
1. Tarif % gross profit adl estimasi Laba kotor
berdasar pengalaman periode-periode sebelumnya
2. Estimasi gross profit = % GP X Net Sales
3. Estimasi COGS = Net Sales – Estimasi GP
4. Estimasi Inventory Akhir = Available For Sales-
Estimasi COGS

40. Merchandise inventory, January 1 $ 57,000
Purchases in January (net) 180,000
Merchandise available for sale
Sales in January (net) $250,000
Less: Estimated gross profit
Estimated cost of merchandise sold
Estimated merchandise inventory, January 31
($250,000 x 30%) 75,000
175,000
$ 62,000
Gross Profit MethodGross Profit MethodGross Profit MethodGross Profit Method
The gross profit method is useful for estimatingThe gross profit method is useful for estimating
inventories for monthly or quarterly financialinventories for monthly or quarterly financial
statements in a periodic inventory system.statements in a periodic inventory system.
The gross profit method is useful for estimatingThe gross profit method is useful for estimating
inventories for monthly or quarterly financialinventories for monthly or quarterly financial
statements in a periodic inventory system.statements in a periodic inventory system.
$237,000

41. Inventory TurnoverInventory TurnoverInventory TurnoverInventory Turnover
SUPERVALU Zale
Cost of merchandise sold $15,620,127,000 $ 737,188,000
Inventories:
Beginning of year $1,115,529,000 $478,467,000
End of year 1,067,837,000 571,669,000
Total $2,183,366,000 $1,050,136,000
Average $1,091,683,000 $525,068,000
Inventory turnoverInventory turnover 14.3 times14.3 times 1.4 times1.4 times
Use: Inventory turnover measures the relationship
between the volume of goods sold and the
amount of inventory carried during the period.
Use: Inventory turnover measures the relationship
between the volume of goods sold and the
amount of inventory carried during the period.

42. Average daily cost of
merchandise sold:
$15,620,127,000/365 $42,794,868
$737,188,000/365 $2,019,693
Ending inventory $1,067,837,000 $571,669,000
Number of Days’ Sales in InventoryNumber of Days’ Sales in InventoryNumber of Days’ Sales in InventoryNumber of Days’ Sales in Inventory
SUPERVALU Zale
Average selling periodAverage selling period 25 days25 days 283 days283 days
Use: To assess the efficiency in the
management of inventory
Use: To assess the efficiency in the
management of inventory

43. The EndThe End
Chapter 9Chapter 9