1. Perpetual Method
the perpetual method book is a method where each incoming and outgoing inventory recorded in the books.
Each type of card stock and goods made in the books of account made auxiliary supplies. Details of the subsidiary ledger accounts can be monitored from inventory control in the ledger. Accounts used to record inventory consists of multiple columns that can be used to record purchases, sales and inventory balances. Any change in inventories followed by the recording of the inventory account that the amount of inventory at any time can be determined by looking at the inventory account balance column. Each column specified again for the quantity and price of acquisition.
The use of the method will facilitate the preparation of the book financial position and comprehensive income statement the short term, because it does not need to conduct a physical count to determine the amount of the ending inventory.
The most important traits in a perpetual method in journalizing is:
a. Purchase merchandise inventories are recorded by debiting
b. Cost of goods sold is calculated for each sales transaction and recorded by debiting the COGS in inventory.
c. Inventory is a control account and is equipped with a stock ledger that contains a record for each type of inventory. Inventory ledger shows keuantitas and cost for each of the items in stock.
2. Periodic Method
In this method, in case of purchase of the journal is debiting purchases and crediting cash or trade payables. If the sale of the journal is debiting cash / accounts receivable and crediting sales. To determine the ending inventory or stock taking an inventory at the end of the period.
Of the two methods above, the periodic inventory method is simpler and easier than the method implementation is perpetual. However, in terms of accuracy and speed of information generated, the perpetual inventory method is far superior. Every moment of ending inventory can be known.
Perpetual method comparison with periodic :
the perpetual method book is a method where each incoming and outgoing inventory recorded in the books.
Each type of card stock and goods made in the books of account made auxiliary supplies. Details of the subsidiary ledger accounts can be monitored from inventory control in the ledger. Accounts used to record inventory consists of multiple columns that can be used to record purchases, sales and inventory balances. Any change in inventories followed by the recording of the inventory account that the amount of inventory at any time can be determined by looking at the inventory account balance column. Each column specified again for the quantity and price of acquisition.
The use of the method will facilitate the preparation of the book financial position and comprehensive income statement the short term, because it does not need to conduct a physical count to determine the amount of the ending inventory.
The most important traits in a perpetual method in journalizing is:
a. Purchase merchandise inventories are recorded by debiting
b. Cost of goods sold is calculated for each sales transaction and recorded by debiting the COGS in inventory.
c. Inventory is a control account and is equipped with a stock ledger that contains a record for each type of inventory. Inventory ledger shows keuantitas and cost for each of the items in stock.
2. Periodic Method
In this method, in case of purchase of the journal is debiting purchases and crediting cash or trade payables. If the sale of the journal is debiting cash / accounts receivable and crediting sales. To determine the ending inventory or stock taking an inventory at the end of the period.
Of the two methods above, the periodic inventory method is simpler and easier than the method implementation is perpetual. However, in terms of accuracy and speed of information generated, the perpetual inventory method is far superior. Every moment of ending inventory can be known.
Perpetual method comparison with periodic :
Perpetual Methods :
When recorded purchase :
Inventory (Dr.) 50,000,000
Trade account payable (Cr.) 50,000,000
When recorded sales :
Trade account receivable (Dr.) 30,000,000
Sales (Cr.) 30,000,000
COGS (Dr.) 25,000,000
Inventory (Cr.) 25,000,000
Adjustment at end of periods :
Nothing to do, inventory account already showed balance at the end of period amounted to Rp 35,000,000 (10,000,000 *+50,000,000-25,000,000)
* example initial inventory balance Rp 10,000,000
Periodic methods :
When recorded purchase :
Purchase (Dr.) 50,000,000
Trade account payable (Cr.) 50,000,000
When recorded sales :
Trade account receivable (Dr.) 30,000,000
Sales (Cr.) 30,000,000
Adjustment at the end of period :
COGS (Dr.) 10,000,000
Inventory (Cr.) 10,000,000
COGS (Dr.) 50,000,000
Purchase (Cr.) 50,000,000
Inventory (Dr.) 35,000,000
COGS (Cr.) 35,000,000
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