Moving Inventory List contains all types of items you need to move from one location to another. You can also use it for business operations and the cost incurred to carry the goods from the purchase place to the warehouse. Here are 8 Free Sample Moving Inventory List Templates to help you prepare your own Moving Inventory List.

There are two significant methods of Moving Inventory.

FIFO(first in, first out)
LIFO (last in, first out)

The first in, first out method is used in normal business operations. In this method, items that were purchased earlier, are transferred to the production place, and the oldest cost is assigned to the sold items. While the last in, and first out method works oppositely. An inventory is a list of items that are necessary for any business operation or intangible items.

Usually, Inventory is considered as a current asset of an organization. There are two ways to determine the record of inventory. The first one is the perpetual inventory system, in which the company keeps the day-to-day record of inventory due to high per-unit costs. In a periodic inventory system, per unit cost is very low so inventory is maintained at the end of the year. For manufacturing firms, inventory may be of raw material, work in process, and finished goods. In the service industry, there is no concept of inventory.

The benefit of Moving Inventory List

Moving the inventory list provides several benefits to the company. It helps to maintain the correct record of all the items and efficiently manage the inventory. In this way, the company saves us from shortages of materials and losses arising due to strikes or other economic factors. The objective of preparing the inventory list is to keep a record of all the items that are present in the warehouse there is always a danger of natural disasters so goods can be insured in terms of security view. Producing a detailed inventory list is necessary to ensure that everything should be in an organized way and there is no item missing from the list.

There are some causes of slow-moving inventory. The products whose demand is very low come under the category of slow moving. The major disadvantage of slow-moving inventory is that it increases the storage cost as well as leads to an increase in the cost of capital and as a result profit margin is reduced. Another cause of slow-moving inventory is that some companies do not forecast the demand for their newly developed product and it becomes tricky for the manager to estimate their correct demand.

Therefore, such unsold products generate the extra cost that was incurred in their production. When we send out the goods then the company bears the additional cost due to this its total cost also increases as shipping and handling costs. A Bill of lading is considered necessary when the goods are sent abroad. In the case of bulky or heavy items, the company has to spend an extra amount. Always review your stock after regular intervals so that ordering and holding costs can be easily estimated. If any mistake occurs in the calculation process it can also corrected.

Free Moving Inventory List Templates

Here is a preview of This First Sample Moving Inventory List Template in MS Word format.