1. Inventory Valuation:
- Calculate and monitor the cost of goods sold (COGS) and inventory valuation.
- Apply appropriate inventory valuation methods (FIFO, LIFO, weighted average).
- Ensure accurate recording of inventory costs in the ERP system.
2. Inventory Reconciliation:
- Perform regular reconciliations of inventory records with physical counts.
- Investigate and resolve discrepancies between the ERP system records and physical inventory.
- Coordinate and oversee periodic physical inventory counts.
3. Reporting:
- Prepare and review inventory-related journal entries and adjustments.
- Ensure that inventory balances are accurately reflected in financial statements.
- Assist in the preparation of monthly, quarterly, and annual financial reports.
4. Inventory Controls:
- Develop and implement effective inventory control procedures.
- Monitor and evaluate the effectiveness of inventory control processes.
- Ensure compliance with company policies and regulatory requirements.