Overview of cost accounting methods for the invoicing system

 

Case 1: Data on the purchase, sale, and deposit of commodities purchased, sold, and deposited by a A-share company in October 2003 is as follows:

600 pieces of data are saved in early March
Unit price 50 RMB

October 2 pieces purchased in 600
Unit price 60 yuan

October 5 pieces sold in 600

October 15 pieces purchased in 1200
Unit Price 62.5 yuan

October 16 pieces sold in 900

October 28 pieces purchased in 300
Unit Price 70 RMB

October 31 pieces of data are stored at the end of March 1200

 

1. Inventory issuance pricing method: weighted average method

Weighted average unit cost calculation:

• Inventory cost issued in this period = 60 × (600 + 900) = 90000 • inventory cost at the end of the period = 60 × 1200 = 72000

Unit cost = 600 × 50 + 600 × 60 + 1200 × 62.5 + 300 × 70 =
60 RMB/piece

600 + 600 + 1200 + 300

2. Inventory issuance pricing method: Moving weighted average method

Weighted average unit cost after purchase in October 2 =

600 × 50 + 600 × 60 = 55 RMB/piece

600 + 600

• Inventory cost issued in October 5 = 600 × 55 = 33000 RMB • weighted average unit cost after purchase in October 15

= 600 × 55 + 1200 × 62.5 = 60 RMB/piece

• 600 + 1200

Inventory Cost issued in October 16 = 900 × 60 = 54000 RMB

• Weighted average unit cost after purchase in October 28

= 900 × 60 + 300 × 70 = 62.5 RMB/piece

• 900 + 300

Inventory cost at the end of the period = 1200 × 62.5 = 75000 RMB

3. Inventory issuance and billing method: first-in-first-out method

Inventory cost at the end of the period:

= 300 × 700 + 900 × 62.5 = 77250

Inventory Cost issued in current period:

= 600 × 50 + 600 × 60 + 300 × 62.5 = 84750

4. Inventory issuance and billing method: Post-import, first-out method

Inventory cost at the end of the period:

= 600 × 50 + 300 × 62.5 + 300 × 70 = 69750

Inventory Cost issued in current period:

= 600 × 60 + 900 × 62.5 = 92250

5. Inventory issuance method: gross profit rate method

• The gross profit rate method calculates the gross profit of the current period based on the current net sales amount multiplied by the actual (or planned this month) and calculates the inventory cost. • (1) Basic practice and Calculation Formula

Gross profit rate = gross profit/net sales × 100%

Net sales = goods sales revenue-Sales return and discount

Sales cost = net sales-gross profit = net sales × (1-gross profit margin)

Inventory cost at the end of the period = inventory cost at the beginning of the period + current purchase cost-current sales cost

• (2) Evaluation: retail enterprises are more common and the calculation procedures are relatively simple

6. Inventory issuance pricing method: Retail Price Method

The retail price method is a method for calculating the inventory cost at the end of the period based on the percentage of the cost to the retail price.

• Basic practices:

① Inventory at the beginning and current periods are recorded at both the cost and the retail price to calculate the inventory costs and total prices available for sale;

② The current sales volume is recorded at the selling price only. The total selling price of the current period is calculated from the total inventory prices available for the current period minus the total selling price of the current period;

③ Calculate the percentage of inventory costs to the retail price, that is, the cost rate. The formula is as follows:

Cost Rate = (initial inventory cost + current purchase cost)/(initial inventory Price + current purchase price) ×
100%

④ Calculate the inventory cost at the end of the period. The formula is:

Total inventory price at the end of the period X Cost Rate

⑤ Calculate the current sales cost, formula:

Initial inventory cost + current purchase cost-end inventory cost

Rating: it is mainly applicable to retail enterprises, because the commodities of such enterprises must be marked with the retail price, and the model, variety, and style of commodities are numerous, so it is difficult to use other methods for pricing.

Overview of cost accounting methods for the invoicing system