How To
Set Up an Inventory Control System
No matter
what type of business you are in, you have some sort of inventory. Office
equipment, paper, supplies, tables, chairs, desks, products, tools, etc.
Depending on the type of business you are operating, the system could be quite
complex or really simple.
Restaurant,
retail store, automotive repair shop all use supplies,
parts and products that they use, sell and they need a way to track them.
This in
short tells you what you have, where you bought it, how much it cost, cost of
retail, retail price, profit, quantity in stock, total inventory cost, inventory
retail value and inventory profit potential.
|
BASIC INVENTORY RECORD |
|||||||||||||
|
ITEM |
DATE PURCHASED |
DESCRIPTION |
STOCK |
VENDOR |
VENDOR |
COST |
COST |
RETAIL PRICE |
PROFIT |
QTY |
INVENTORY |
INVENTORY |
INVENTORY |
|
1 |
1/2/2024 |
Stealers Base Ball Caps |
L9088 |
A23 IMPORTS |
L9088 |
$4.00 |
40% |
$ 10.00 |
$ 6.00 |
5.00 |
$ 20.00 |
$ 50.00 |
$ 30.00 |
|
2 |
1/3/2024 |
PAPER CLIPS |
PC0989 |
OFFICE DEPOT |
PC0989 |
$1.25 |
40% |
$ 3.13 |
$ 1.88 |
22.00 |
$ 27.50 |
$ 68.75 |
$ 41.25 |
|
3 |
1/4/2024 |
GEL INK PENS |
GIP770990 |
OFFICE DEPOT |
GIP770990 |
$3.79 |
40% |
$ 9.48 |
$ 5.69 |
66.00 |
$ 250.14 |
$ 625.35 |
$ 375.21 |
Basic Inventory
Monitoring and Control System
This does
the same as the Basic Inventory Record as well as calculating restocking
quantity and cost with how many days in inventory on the shelf.
|
BASIC INVENTORY
MONITORING & CONTROL SYSTEM |
||||||||||||||
|
ITEM |
DATE PURCHASED |
DESCRIPTION |
STOCK |
VENDOR |
VENDOR |
QTY |
COST |
COST |
RETAIL PRICE |
PROFIT |
INVENTORY |
INVENTORY |
INVENTORY |
|
|
1 |
1/2/2024 |
Stealers Base Ball Caps |
L9088 |
A23 IMPORTS |
L9088 |
5.00 |
$4.00 |
40% |
$10.00 |
$6.00 |
$ 20.00 |
$ 50.00 |
$ 30.00 |
|
|
2 |
1/3/2024 |
PAPER CLIPS |
PC0989 |
OFFICE DEPOT |
PC0989 |
22.00 |
$1.25 |
40% |
$ 3.13 |
$1.88 |
$ 27.50 |
$ 68.75 |
$ 41.25 |
|
|
3 |
1/4/2024 |
GEL INK PENS |
GIP770990 |
OFFICE DEPOT |
GIP770990 |
66.00 |
$3.79 |
40% |
$ 9.48 |
$5.69 |
$ 250.14 |
$ 625.35 |
$ 375.21 |
|
|
BASIC INVENTORY
MONITORING & CONTROL SYSTEM |
||||||||||||||
|
ITEM |
DATE SOLD |
DAYS OF |
QTY |
QTY |
QTY |
COST |
||||||||
|
1 |
1/25/2024 |
23 |
3 |
2.00 |
3.00 |
$
30.00 |
||||||||
|
2 |
1/15/2024 |
12 |
1 |
21.00 |
1.00 |
$ 3.13 |
||||||||
|
3 |
1/10/2024 |
6 |
8 |
58.00 |
8.00 |
$
75.80 |
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