Ending Inventory Calculator

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The accounting identity is the fastest method when COGS is already known. FIFO, LIFO, and weighted average start from unit costs and quantities sold.
Total cost value of inventory at the start of the period.
Cost of all inventory purchased (or manufactured) during the period, net of returns.
Total cost assigned to goods sold during the period.
Currency
Ending inventoryHealthy turnover
$15,000.00

Value of stock remaining at the end of the period

Cost of goods sold$40,000.00
Goods available for sale$55,000.00
Inventory turnover ratio2
Goods Available$55,000.00
COGS$40,000.00
Ending Inventory$15,000.00

Using accounting identity, ending inventory is $15,000.00.

  • Goods available for sale totalled 55,000.00 of which 72.7% was sold.
  • An inventory turnover of 2.00 is within the healthy range for most retail and wholesale businesses.
  • The accounting identity is the fastest approach when COGS is already known from your income statement.

Next stepRecord ending inventory on your balance sheet as a current asset. It becomes the opening inventory figure for the next accounting period.

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