Estimate closing inventory from opening inventory, purchases and cost of goods sold.
Ending inventory Calculator
Form
Results
Ending inventory
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Inventory Turnover
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Table of Contents
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What is Ending Inventory ?
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How to Use This Calculator
- Enter or select Beginning inventory, Net purchases, Cost of goods sold.
- Check the unit beside each measurement. For a percentage or rate, use the scale and time period stated in the form.
- Choose Calculate, then compare the output with the formula and example below. If you change a value or option, calculate again to update the result.
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Formula Used
Ending inventory = beginning inventory+net purchases−COGS
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Variables Explained
| Input | What it means |
|---|---|
| Beginning inventory | Use the measured or stated value for this item, with the unit or category shown beside the field. |
| Net purchases | Use the measured or stated value for this item, with the unit or category shown beside the field. |
| Cost of goods sold | The cost amount included by this calculation; keep it on the same basis as the selling amount. |
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Worked Example
5,000 + 12,000 − 10,000 = 7,000 closing inventory.
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Why Use This Calculator?
Compare the result with the underlying statement, budget or proposed transaction. It is most useful when every amount uses the same reporting period and the same accounting definition.
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Common Mistakes
- Use cost values throughout; sales revenue cannot replace cost of goods sold.
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Frequently Asked Questions
Should I use monthly or annual figures?
Use one consistent period for every amount and rate in the relationship. If a form specifies an annual rate or a monthly amount, follow that label rather than mixing time periods.
Does the result include fees and tax?
Only the costs and taxes represented by the inputs and formula are included. A real transaction can include other charges, so compare the estimate with the underlying agreement or statement.
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Sources & References
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