How to deal with inventory accounting

Inventory commodity accounting The actual cost (or purchase price) or planned cost (or selling price) of various commodities in an enterprise's inventory, including finished goods in inventory, purchased goods, goods stored in retail department for sale, displayed goods and goods stored outside. The normal accounting treatment of inventory goods includes the following processes.

1. When an enterprise purchases goods, the accounting entries are:

Borrow: inventory goods,

Taxes payable-VAT payable-input tax,

Loans: bank deposits, etc.

2. The actual sales of goods, first confirm the income and taxes,

Debit: bank deposit

Loan: income from main business

Taxes payable-VAT payable-output tax.

3. Carry forward the cost of the goods sold at the end of the month.

Borrow: main business cost,

Loan: inventory goods.