Stock accountant

Stock accountants have a wide range of responsibilities, which can include:

• Reviewing sales/purchase orders for accuracy and ensuring that they have been approved by the appropriate department head or manager,
• Calculating cost of goods sold by using methods such as first in first out (FIFO) or last in first out (LIFO),
• Calculating inventory turnover ratios by dividing costs of goods sold by average inventory balances,
• Monitoring inventory levels to ensure they are within acceptable ranges,
• Ensuring that all inventory transaction details are recorded accurately in an accounting system,
• Reporting on inventory levels, costs, and turnover rates to management,
• Calculating cost of goods sold by using methods such as average cost, FIFO, LIFO, or average market price,
• Verifying inventory counts and recording adjustments to inventory levels for items that have been used, damaged, or lost,
• Determining methods for recording inventory transactions such as physical counts, perpetual systems, or estimates based on previous usage rate.

BA in Accounting, Business Administration, Purchase and Supplies Management

Required Skills

– Accounting skills

– Data analysis

– Problem solving

– Attention to detail and accuracy

– Communication skills