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Interim Inventory Rollforward

This workbook is used to rollforward recorded interim inventory balances to the year end balances and provide basic analytical procedures to interim inventory balances.

Entering Data

This workbook is designed to accommodate both manufacturing and retail/wholesale companies. The workbook provides sections to classify inventory as raw materials (including services), work-in-process, and finished (or purchased) goods. If the client is a manufacturing company, all sections of the workbook should be completed. However, if the client is a retail or wholesale company (or company that solely purchases inventory), the Raw Material Types and Work in Process Types sections should not be completed. Only the Finished Goods/Purchased Types section should be completed.
For each section, space is provided to input the inventory types, interim inventory balances, subsequent additions, and subsequent disposals. Enter disposals as negative amounts. In the additional analysis section of the workbook, enter the actual year end balances for total purchases, cost of production, and cost of sales.

Inserting and Deleting Line Items

Each section of the worksheet contains 8 input rows. Excess rows may be deleted. See the section “General Workpaper Functionality and Tips for Entering Data” for information concerning the tips for and potential effects of inserting and deleting workbook line items.