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    T.L.H's Avatar
    T.L.H Posts: 1, Reputation: 1
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    #1

    Apr 3, 2012, 08:51 AM
    How do I find the Beginning Inventory?
    I need to find the COGS and the BI. How do I calculate one without the other?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Apr 3, 2012, 11:59 AM
    Beginning Inventory will be the Ending Inventory amount on your previous period balance sheet.

    For example your beginning inventory amount for the year 2012 will be your inventory amount on your 2011 balance sheet.
    ACCTGUY's Avatar
    ACCTGUY Posts: 22, Reputation: 1
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    #3

    Apr 15, 2012, 06:45 AM
    In Some cases Beginning Inventory is $ 0
    If its not given you can assume its $ 0
    But do you have something there like Finished GOODS in place on Beginning Inventory
    Or Ending Inventory from Last year will be beginning inventory of this year.

    So here is how you do it

    Beginning Inventory $ 0
    + Purchases
    (LESS PURCHASES discounts, Returns and allowances)
    = COGs PURCHASED + FREIGHT IN
    Total cost of goods available for Sale
    - Ending Inventory
    = COGS SOLD
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