The cost of your inventory at the beginning of year 2 is the cost of your inventory at the end of year 1.
If you use a spreadsheet to track and manage your inventory, for the new year 2, you will copy the quantity and cost of the inventory at the end of year 1 and paste their value in your inventory daily entry sheet in the columns of beginning of the year quantity and cost of inventory.
Then you copy the name of the products and paste in the inventory daily entry sheet in the column of product name.
When you are done, the quantity and cost of the inventory at the beginning of the year (January 1st Year 2 for instance) will be equal to the quantity and cost of the inventory at the end of the prior year (December 31st Year 1 for instance).
Conclusion: How do you calculate inventory at the beginning of the year?
The video explains steps by steps how to determine inventory at the beginning of the year using a spreadsheet for the following:
Finished products.
Raw materials
Private label products
Reselling products
POD and digital downloads
Business supplies
The inventory and sales workbook are free for download at:
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