# Inventory Accounting

Skill · Finance and Accounting

Canonical page: https://career.thegoodapps.co/skills/inventory-accounting

Inventory accounting is the branch of accounting concerned with recording, valuing, and reporting a company's inventory of raw materials, work-in-progress, and finished goods on financial statements. It involves choosing valuation methods like FIFO, LIFO, or weighted average cost, and tracking inventory to accurately calculate cost of goods sold and profit. Accountants and controllers use inventory accounting to ensure financial statements comply with standards like GAAP and to support tax reporting.

## Roles that use Inventory Accounting

- [Accounting Manager](https://career.thegoodapps.co/occupations/accounting-manager) — 1
- [Financial Manager](https://career.thegoodapps.co/occupations/financial-manager) — 1

Related skills: [Financial Reporting](https://career.thegoodapps.co/skills/financial-reporting), [Auditing](https://career.thegoodapps.co/skills/auditing), [Cost Accounting](https://career.thegoodapps.co/skills/cost-accounting)

## Open roles requiring Inventory Accounting (2)

- [Plant Finance Lead](https://career.thegoodapps.co/jobs/ea47e49b-180c-44b6-987d-59947e593d2a/plant-finance-lead-at-moderna) at [Moderna](https://career.thegoodapps.co/organizations/moderna) — Full-time
- [Lead, Inventory Control Accounting NA](https://career.thegoodapps.co/jobs/601573c9-49f0-42d1-ad6b-1dc43de30abe/lead-inventory-control-accounting-na-at-nike-inc) at [Nike, Inc.](https://career.thegoodapps.co/organizations/nike-inc) — Beaverton, OR