Inventory List Template

An inventory list template is a complete list in which all the products of company are mentioned which are in stock. These include raw materials, in-work products, finished products etc. An inventory list should always include the product number, name, description of product, price, quantity in stock and all other necessary details. This list is vastly important for businesses because it shows all the stock of products which are available for sale, which items are continuous selling, which are not used and many more. An inventory list is really beneficial as it helps you keep track of your goods, you can see which products are available and which are not available.

Importance of Inventory List:

The inventory list template is a business list of stock which is available at the shop or at the factory. The inventory of any product serves as the raw material from which a manufacturer produces different products. Normally, the production of products is based on either the demand of the product or the availability of inventory. Moreover, there are three methods for calculating available inventory which are given below for your ease:

1- FIFO (First in first out).

2- LIFO (Last in first out).

3- The weighted average.

A complete inventory accounting guideline is also provided by the IAS. Whereas the inventory list includes the following information. For instance, the unit price of the product, raw inventory units, finished inventory units and remaining inventory units. If the producer has a well-maintained inventory list, then he or she may be able to easily allocate the stock to the production. Moreover, it is necessary for the firm to evaluate the inventory at the end of every month and year.

Templates For Inventory List: