Inventories include the following assets:

Used as raw materials, materials, etc. in the production of products intended for sale (performance of work, provision of services);

Intended for sale (including finished goods; goods purchased for resale);

Used for the management needs of the organization.

In accounting inventories are reflected in the following accounts and sub-accounts:

1) materials (balance sheet 10), including:

Raw materials and materials (sub-account 10/1);

Purchased semi-finished products and components, structures and parts (sub-account 10/2);

Fuel (sub-account 10/3);

Container and container materials (sub-account 10/4);

Spare parts (sub-account 10/5);

Other materials - production waste (stumps, trimmings, shavings, etc.), irreparable rejects, material values ​​obtained from the disposal of fixed assets and unsuitable for further use (scrap metal, waste materials, etc.), worn-out tires, waste rubber (sub-account 10/6);

Materials transferred for processing to the outside (subaccount 10/7);

Building materials of customers-developers (subaccount 10/8);

Inventory and household supplies (subaccount 10/9);

2) goods purchased for further resale (balance sheet account 41), including:

Goods in warehouses (subaccount 41/1);

Retail goods (sub-account 41/2);

Containers under the goods and empty (subaccount 41/3);

Purchased products (sub-account 41/4) - for non-trade organizations;

3) finished products (balance sheet account 43).

The organization chooses the accounting units of inventories (by type, group, purpose) independently and fixes it in. This can be a stock number, batch, homogeneous group, etc.

Formation of the actual cost of inventories

Accepted for accounting by actual cost.

The actual cost of inventories purchased for a fee is the amount of the organization's actual costs for the acquisition, excluding VAT and other reimbursable taxes (except as provided for by the legislation of the Russian Federation).

TO actual costs for the purchase of inventories include:

1) the amounts paid in accordance with the contract to the supplier (seller);

2) the amounts paid to organizations for information and consulting services related to the purchase of inventories;

3) customs duties;

4) non-refundable taxes paid in connection with the acquisition of a unit of inventories;

5) remuneration paid to the intermediary organization through which the inventories were purchased;

6) costs for procurement and delivery of inventories to the place of their use:

For procurement and delivery of inventories;

For transport services for the delivery of inventories to the place of their use, if they are not included in the price established by the contract;

Accrued interest on loans provided by suppliers (commercial loan);

Insurance expenses;

7) the costs of bringing the inventories to a state in which they are suitable for use for the planned purposes. This includes the costs of the organization for additional work, sorting, packing and improving the technical characteristics of the stocks received, not related to the production of products, the performance of work and the provision of services;

8) general business and other similar expenses directly related to the purchase of inventories;

9) other costs directly related to the purchase of inventories.

Transportation and procurement costs can be accounted for on a special subaccount to account 10 and distributed at the end of the month between the stocks written off for production and stock balances in warehouses.

Example ... The opening balance for subaccount 10/1 "Materials at contractual prices" - 3800 rubles, for subaccount 10/11 "Transport and procurement costs" - 2700 rubles.

In the reporting period:

Materials for the amount of 60,000 rubles were received. (VAT is not included);

Paid for the services rendered by the transport organization for the delivery of materials to the warehouse of the organization - 1180 rubles, incl. VAT - 18%;

Paid for the services of intermediaries for the purchase of materials - 4720 rubles, incl. VAT - 18%;

Released into production material assets at negotiated prices in the amount of 55,000 rubles.

We will determine the actual cost of the harvested material assets for the reporting period and calculate the share of transport and procurement costs related to the materials released into production, as well as draw up accounting records for these business transactions (Tables 14 and 15).

Table 14

Actual cost of material assets for the reporting period

Indicators	Materials, rub. (sub-account 10/1)	Transport- procurement expenses, rub. (sub-account 10/11)
Balance at the beginning of the month
Received in a month		1 000 4 000
Total receipt, taking into account the remainder
Percentage of TOR of the cost of materials	(7700: 63 800) x 100 = 12.07%
Released for production
Balance at the end of the month

Table 15

Accounting records for completed operations

Operation			Sum, rub.
Received materials
Services provided by a transport organization
VAT charged by the transport organization
Acquisition intermediary services materials
VAT charged by intermediaries
Materials released into production
Written off TKR attributable to materials, used in production
Paid for the services of a transport organization
Services of intermediaries paid

Trade organizations may not include in the actual cost of the purchased goods the costs of procurement and delivery of goods made prior to the transfer of goods for sale. The trading company may include these costs in the sales expenses (clause 13 of PBU 5/01).

When purchasing inventories for a fee, the costs associated with this are reflected directly in the debit of inventory accounts: 10 "Materials", 11 "Animals in growing and fattening", 15 "Procurement and purchase of material assets", 41 "Goods".

Account 15 is used in cases where organizations use planned and estimated (accounting) prices, which are developed and approved by the organization and are intended for use only within the organization. On the debit of the balance sheet account 15, they reflect the actual cost of the inventory received (D-t 15 K-t 60, 76, 71), and on the credit - the cost of the inventory in planned and estimated prices (D-t 10 K-t 15). Deviations of the planned and estimated prices from the actual cost of inventories are written off to the debit or credit of the balance sheet account 16 "Deviation in the cost of tangible assets":

D-t 15 K-t 16 - the excess of the book price over the actual cost of inventories has been written off

or D-t 16 K-t 15 - the excess of the actual cost of inventories over the book price has been written off.

At the end of the month, the total amount of deviations accumulated on account 16 is distributed between the value of written off (retired) inventories and the value of their balance in warehouses. Examples of calculating the distribution of deviations (normal and simplified) are given in Appendix No. 3 to Methodical Instructions No. 119n.

Actual cost of inventories when they are manufactured by the organization itself, it is determined based on the actual costs associated with the production of these stocks. Accounting and formation of costs for the production of inventories are carried out by the organization in the manner established for determining the cost of the corresponding types of products.

Example ... Sugar is the main product of a sugar refinery for outsourcing. The sugar factory includes a confectionery shop. Sugar of our own production is used as raw material for this workshop. Finished goods in the part intended for own consumption are accepted for accounting on account 43 "Finished goods" at their actual cost, equal to the sum of the actual costs of their production.

In March, the actual production cost of sugar was 10 rubles. for 1 kg of finished products. A total of 150,000 kg of sugar were produced in March. Of the products manufactured in March, 900 kg of sugar were transferred to the confectionery shop.

The following entries were made in the accounting records of the sugar refinery in March:

D-t 20 K-t 02, 10, 70, 69, 60, 76, etc. - 1,500,000 rubles. - reflects the actual cost of making sugar in March;

D-t 43 K-t 20 - 1,500,000 rubles. - reflects the actual cost of sugar produced;

D-t 10 K-t 43 - 9000 rubles. - reflects the cost of finished products transferred to the confectionery shop for use as raw materials (900 kg x 10 rubles).

Inventory accounting

Items for resale, are reflected in accounting and reporting:

At purchase prices in wholesale trade organizations (debit balance on balance sheet account 41);

At the actual cost of finished products - in non-trade organizations selling finished products through their own retail outlets (debit balance on account 41);

At purchase or sale prices in retailers. If the organization accounts for the goods at purchase prices, when drawing up accounting statements, the balance sheet reflects the debit balance on balance sheet account 41, and if at selling (retail) prices, the balance sheet reflects the debit balance on account 41 minus the credit balance on account 42. This is due to with the fact that when selling prices are applied, the trading margin is reflected on the credit of the balance sheet account 42 "Trade margin":

D-t 41 K-t 60 - the goods were capitalized at the prices of the supplier;

D-t 41 K-t 42 - the trade margin is reflected;

At the cost of purchase, which includes purchase prices and transportation costs for the delivery of goods;

At the cost of acquisition, including purchase prices, transportation costs for the delivery of goods and other costs associated with the purchase of goods.

Selected method of determining the cost of goods the organization fixes it in the accounting policy.

If the organization does not reflect transportation costs for delivery in the cost of the purchased goods, in order to approximate accounting and tax accounting, these costs can be written off according to the rules established by Art. 320 of the Tax Code of the Russian Federation, i.e. include in the distribution costs of the reporting month in the share attributable to goods sold this month. In this case, the calculation of transport costs for the balance of goods is made according to the formula:

TP = Co x (TPn + TPt) / (Cn + Co),

where TR - transportation costs for the remainder of the goods at the end of the reporting month;

ТРн - the amount of transportation costs for the balance of goods at the beginning of the reporting month (transportation costs not charged to the cost of sales in the previous reporting period);

TRt - transportation costs of the current reporting month;

Co - the cost of the remainder of the inventory at the end of the reporting month in discount prices;

Cn - the cost of goods sold for the reporting month (the cost of goods sold in book prices).

Example ... Let's look at an example of reflecting inventory in a trade organization. Please note how shipping costs are determined.

Table 16

Organization's operations to reflect inventory

	Product, rub. (balance score 41)	Transport expenses for delivery, rub. (balance score 44)
1. Balance at the beginning of the month
2. Received in a month
3. Items sold per month
4. Balance of goods at the end of the month
5. Indicator for calculating the proportion	2 000 000 (p. 3 + p. 4)	220 000 (p. 1 + p. 2)
6. Percentage of transportation costs for the balance of goods: (220,000: 2,000,000) x 100 = 11%
7. Transport costs for the remainder of the goods (item 4 x item 6)
8. Transportation costs to be written off in the current month (items 5 - 7)

Accounting for finished products

Finished products accounted for by name with separate accounting for distinctive features (brands, articles, standard sizes, models, styles, etc.). Finished goods are accounted for at their actual production cost. The cost of production is the cost of production and sale, expressed in monetary terms.

The costs of manufacturing finished products are grouped:

At the place of origin - by production workshops, sections, other structural divisions;

By types of products (works, services) - to determine the cost of specific types of products (works, services);

By expense types - by cost elements and calculation items. Elements of production costs - material costs (excluding returnable waste), labor costs, social deductions, depreciation of fixed assets, other costs (postage, telephone, travel, etc.). Costing objects are individual products, their groups, semi-finished products, the cost of which is determined. A typical grouping of costs by calculation items is shown in table. 17.

Table 17

Typical grouping of costs by costing items

	Article title
	Raw materials and supplies
	Returnable waste (deductible)
	Purchased products, semi-finished products and manufacturing services nature of outside organizations
	Fuel and energy for technological needs
	Production workers wages
	Social contributions
	Expenses for preparation and development of production
	General production costs
	General running costs
	Losses from marriage
	Other production costs
	Production cost of production (amount of lines 1 - 11)
	Business expenses
	Full cost of production (amount of pages 1 - 12)

For accounting of finished goods (FP), the following are applied discount prices... The following may be used as the discount price of SOEs:

Actual production cost;

Standard cost;

Contractual prices;

Other types of prices.

The choice of the accounting price is fixed in the accounting policy.

When using the standard cost or contract prices, the organization takes into account the deviations of the standard cost from the actual one on a special subaccount to balance sheet account 43 "Finished goods". Deviations are taken into account in the context of the nomenclature or individual groups of finished products or for the organization as a whole. The excess of the actual cost is reflected in the debit of the deviation subaccount to account 43 and the credit of the cost accounting account (20, 23 or 29). If the actual cost is lower than the carrying amount, the difference is reflected in a reversal entry.

If the write-off of finished products at the time of shipment (release, etc.) is made at discount prices, deviations are written off to the sales account in proportion to the cost of the sold products in discount prices. In any case of using discount prices, the following relationship is always fulfilled:

Cost of finished goods in book prices + Variance = Actual production cost of finished goods.

When accounting for finished goods at the standard (planned) cost, balance account 40 "Release of finished goods" can be used. In this case, the debit reflects the actual cost of the finished product, and the credit reflects the standard cost of the manufactured product. The excess of the standard cost over the actual (savings) is reflected by a reversal entry: D-t 90/2 K-t 40. The excess of the actual cost over the standard (overrun) is reflected by posting D-t 90/2 K-t 40. Please note: balance sheet account 40 at the end of the month has no balance.

Example ... According to the accounting policy of the organization:

Finished goods are accounted for at the standard cost without using the balance sheet account 40;

The actual costs of manufacturing a unit of production are determined at the end of the month;

Finished products are accounted for on subaccount 43/1;

Deviations in the cost of production are reflected in subaccount 43/2;

Deviations are taken into account for the enterprise as a whole.

Table 18

Initial data

Index	To the beginning months		Finally months
Unfinished production
Finished products
Implementation
Sales price with VAT
The sum of the variances in the balance of the finished products
Standard unit cost products
Actual unit cost products

Objective: to reflect the production and sale of products in accounting. The following entries will be made in accounting:

D-t 43/1 K-t 20 - 3,000,000 rubles. - finished products were accepted for accounting at standard cost (3000 units x 1000 rubles);

D-t 90/2 K-t 43/1 - 2,700,000 rubles. - the standard cost of finished goods sold was written off (2,700 units x 1,000 rubles);

D-t 43/2 K-t 20 - (30,000 rubles) - reversal of deviations in the cost of production ((990 - 1000) rubles x 3000 units).

Table 19 shows the distribution of deviations.

Table 19

Distribution of deviations

	Index	Accounting prices, rub.	The actual cost price, rub.	Deviations, rub.
	Balance of finished products for beginning of the month
	Received from production
	Deviation ratio,% ((-20,000: 3,200,000) x 100)
	Goods shipped		2 683 125 (2 700 000 - 16 875)	16 875 - (2,700,000 x 0,625%)
	Balance of finished products for the end of the month		496 875 (500 000 - 3125)	3 125 - (500,000 x 0,625%)

An entry will be made in accounting:

D-t 90/2 K-t 43/2 - (16 875 rubles) - reversal of deviations attributable to sold products.

Example ... Let's change the conditions of the previous example in terms of accounting policy: the organization accounts for finished products at standard cost using balance sheet account 40. The following entries should be reflected in accounting:

D-t 43 K-t 40 - 3,000,000 rubles. - finished products were accepted for accounting at standard cost (3000 units x 1000 rubles);

D-t 62 K-t 90/1 - 4,779,000 rubles. - reflects the sale of finished products (2700 units x 1770 rubles);

D-t 90/3 K-t 68 - 729,000 rubles. - VAT calculated on products sold (RUB 4,779,000 x 18/118);

D-t 90/2 K-t 43 - 2,700,000 rubles. - the standard cost of finished goods sold was written off (2,700 units x 1,000 rubles);

D-t 40 K-t 20 - 2,970,000 rubles. - reflects the actual cost of products manufactured per month (3000 units x 990 rubles);

D-t 90/2 K-t 40 - (30,000 rubles) - reversal of the excess of the standard cost over the actual (2,970,000 - 3,000,000).

Write-off of inventories

In accounting and reporting, the subsequent cost of inventories is formed depending on the accepted in the organization method of estimating retired reserves: at the cost of each unit, at the average cost or at the cost of the first in the time of purchase of inventories (FIFO). The organization can use different methods of writing off inventories by their groups (types).

Example ... The main raw material for the bakery is flour. Table 20 shows an extract from the turnover balance sheet of the flow of flour for December.

Table 20

Extract from the balance sheet of the bakery

						Remainder, Kg
	Quantity, Kg	Price, rub.	Price, rub., cop.		Quantity, Kg
Balance on 01.12.2010

Let's consider the possible ways of assessing the inventories written off for production, and therefore, their balances at the end of the month.

Option 1. Average cost method (weighted estimate):

1) we will determine the average price of flour received in December (taking into account the remaining flour at the beginning of December):

RUB 921 600 : 84,000 kg = 10.97 rubles;

2) determine the cost of flour released in December for production:

78,000 kg x 10.97 rubles. = 855 660 rubles;

3) determine the cost of the remaining flour:

921 600 - 855 660 = 65 940 rubles.

In the balance sheet at the end of the year (December 31, 2010) the cost of flour, reflected in the debit of balance sheet account 10, will be 65,940 rubles.

Option 2. Average cost method (rolling valuation)... The cost of retired inventories is determined at each date of their release into production. The calculation of the cost of flour written off into production is presented in table. 21.

Table 21

Calculation of the cost of flour written off for production

	Quantity, Kg	Price, rub., cop.	Price, rub.	Quantity, Kg	Price, rub., cop.	Price, rub.
Balance on 01.12.2010
Balance on 02.12.2010					(10 000 + 51 500) : (1000 + 5000) = 10,25
Balance on 06.12.2010					(10 250 + 105 000) : (1000 + 10 000) = 10,48
Balance on 09.12.2010			10 250 + 105 000 - 52 400 - 41 920 = 20 930		(20 930 + 66 000) : (2000 + 6000) = 10,87
Balance on 15.12.2010			20 930 + 66 000 - 54 350 - 21 740 = 10 840		(10 840 + 134 400) : (1000 + 12 000) = 11,17
Balance on 20.12.2010			10 840 + 134 400 - 67 020 - 55 850 = 22 370		(22 370 + 222 000) : (2000 + 20 000) = 11,11
Balance on 25.12.2010			22 370 + 222 000 - 66 660 - 99 990 - 66 660 = 11 060		(11 060 + 200 700) : (1000 + 18 000) = 11,15
Balance on 31.12.2010			11 060 + 200 700 - 111 500 - 55 750 = 44 510		(44 510 + 112 000) : (4000 + 10 000) = 11,18
Balance on 01.01.2011			44 510 + 112 000 - 89 440 = 67 070

When using the rolling valuation, the cost of flour written off for production in December was 854,530 rubles, and the cost of flour stocks at the end of the year was 67,070 rubles.

Option 3. FIFO method.

With this method, the stocks that were in the balance at the beginning of the month are first written off, then - in the sequence of receipt of stocks: from the first batch, then from the second batch, etc.

This line of the Balance Sheet reflects information about the organization's reserves, namely (clause 20 of PBU 4/99):

- about raw materials, materials and other similar values;

- costs in work in progress;

- finished products;

- goods for resale and goods shipped;

- costs of future periods.

At what cost are the inventories accounted for?

1. Raw materials, materials and other similar values ​​are accepted for accounting at the actual cost, which is determined in accordance with the procedure established by clauses 6-11, 13 PBU 5/01, clauses 16, 17, 63-71 of the Methodological Guidelines for the accounting of material production stocks (clause 5 of PBU 5/01, clauses 15, 62 of the Guidelines for the accounting of inventories, clause 11 of the Guidelines for the accounting of special tools, special devices, special equipment and special clothing).

The specified material values, accounted for on separate sub-accounts of account 10 "Materials", can be recorded on this account at the actual cost or at discount prices. In the latter case, the difference between the cost of these valuables at book prices and their actual cost of purchase (procurement) is reflected in account 16 "Deviation in the cost of materials" (clauses 80, 83, 85 of the Methodological Guidelines for the accounting of inventories, clauses 13 Guidelines for the accounting of special tools, special devices, special equipment and special clothing, Instructions for the use of the Chart of Accounts).

If the receipt of materials is reflected using account 15 "Procurement and acquisition of material assets", the balance of account 15 shows the presence of inventories in transit at the end of the month (at the contractual cost) (Instructions for the use of the Chart of Accounts, clause 26 of PBU 5/01, p. 85 of the Methodological Guidelines for the Accounting of Inventories).

Attention!

Since raw materials, materials and other assets used to create non-current assets of the organization do not meet the characteristics of inventories given in clause 2 of PBU 5/01 (they are not used as raw materials and materials in the production of products intended for sale (when performing works, rendering of services), are not intended for sale, are not used for the management needs of the organization), they cannot be recognized as part of inventories and reflected in the Balance Sheet in line 1210 "Inventories". Such assets are reflected in the Balance Sheet as part of non-current assets (Appendix to the Letter of the Ministry of Finance of Russia dated January 29, 2014 N 07-04-18 / 01).

1. Finished products accepted for accounting at the actual production cost, which is determined in the manner prescribed by clause 7 PBU 5/01, para. 5 p. 16, p. 203 of the Methodological Guidelines for the accounting of inventories. At the same time, the balances of finished products in the warehouse (other storage places) at the end (beginning) of the reporting period can be assessed in the analytical and synthetic accounting of the organization at accounting prices, in particular, at the standard (planned) cost (clause 5 of PBU 5/01, paragraph 2 p. 203, p. 204 of the Methodological Guidelines for the Accounting of Inventories).

Information on the availability and movement of finished products is reflected in account 43 "Finished products".

If the accounting of finished products is kept at accounting prices, then the difference between the actual cost and the cost of finished products at accounting prices is reflected in account 43 on a separate subaccount "Deviations of the actual cost of finished products from the book value" stocks).

When accounting for finished products at the standard (planned) cost, to identify the difference between the actual cost and the cost of finished products at the standard cost, account 40 "Output of products (works, services)" (Instructions for the use of the Chart of Accounts) can be used. Account 40 is monthly closed to account 90 "Sales" and has no balance as of the reporting date.

Thus, if the accounting for deviations from the book value of the finished product is kept on account 43, then in the balance sheet the finished product is reflected at the actual cost, and if on account 40, then the finished product is reflected at the standard (planned) cost (clause 59 of the Regulations on maintenance accounting and financial statements, paragraph 24 PBU 5/01).

Attention!

If on the reporting date the organization has concluded an agreement for the sale of finished products at a price below its cost, then a reserve is created for the reduction in the cost of these finished products (clause 25 of PBU 5/01, Appendix to the Letter of the Ministry of Finance of Russia dated January 29, 2014 N 07-04-18 / 01).

1. Goods are accepted for accounting at the actual cost, which is determined in the manner prescribed by clauses 6, 8 - 11 of PBU 5/01 (clause 5 of PBU 5/01). Organizations engaged in trading activities can account for goods at the cost of their acquisition. Organizations engaged in retail trade can account for goods at their selling value (clause 13 of PBU 5/01, clause 60 of the Regulations on accounting and financial reporting).

To summarize information about the availability and movement of goods, account 41 "Goods" is intended.

In organizations engaged in retail trade and keeping records of goods at sales prices, information on trade margins (discounts, capes) on goods is reflected in account 42 "Trade margin".

The receipt of goods and containers can be reflected using accounts 15 "Procurement and acquisition of material assets" and 16 "Deviation in the cost of material assets" or without their use in a manner similar to the procedure for accounting for the relevant transactions with materials (Instructions for the use of the Chart of Accounts).

In general, the actual cost of inventories (including raw materials, materials, finished products and goods) is not subject to change (clause 12 of PBU 5/01). But for inventories, the market price of which has decreased or they are morally obsolete, or have completely or partially lost their original qualities, in accounting it is charged depreciation reserve ... To account for such a reserve, account 14 “Provisions for depreciation of material assets” is intended (clause 25 of PBU 5/01, clause 20 of the Methodological Instructions for the Accounting of Inventories, Instructions for the Application of the Chart of Accounts). Recall that the creation of estimated reserves is considered as a change in the estimated values ​​in accordance with clauses 2, 3 of PBU 21/2008.

1. Goods shipped are accounted for on account 45 "Goods shipped" at the cost consisting of the actual production cost (or standard (planned) cost) and expenses for the sale (sale) of products (goods, works, services, etc.) (with partial write-off of expenses) (Instructions for the use of the Chart of Accounts, clause 61 of the Regulations for the maintenance of accounting and financial reporting).

Attention!

A reserve for a decrease in the value of goods listed as shipped goods at the reporting date is not created (Letters of the Ministry of Finance of Russia dated January 29, 2008 N 07-05-06 / 18, dated January 29, 2009 N 07-02-18 / 01). An exception is the situation when an agreement has been concluded for the sale of goods at a price lower than the book value of these goods. In this case, the organization creates a reserve for a decrease in the value of tangible assets for the difference between the book value and the selling price of goods (clause 25 of PBU 5/01, Appendix to the Letter of the Ministry of Finance of Russia dated January 29, 2014 N 07-04-18 / 01, Clarification 11- 05 "Reserve for stocks under concluded contracts" (Interpretations Committee. 25.02.2011)).

Attention!

The real estate object transferred to the buyer is removed from the fixed assets of the organization (clause 29 PBU 6/01). If the moment of writing off the real estate object, the ownership rights to which are subject to state registration, does not coincide with the moment of recognition of income and expenses from the disposal of the object of fixed assets, then the residual value of the retired object of fixed assets can be accounted for on account 45 "Goods shipped", and in the balance sheet is reflected in the composition of current assets (Letter of the Ministry of Finance of Russia dated January 27, 2012 N 07-02-18 / 01).

In our opinion, account 97 "Deferred expenses" and subaccount "Disposal of fixed assets" to account 01 "Fixed assets" can be used as alternative options for accounting for the cost of retired real estate objects. In this case, regardless of the selected accounting option, the cost of such objects is shown in the Balance Sheet on line 1210.

1. Work in progress (WIP) taken into account in the assessment, determined by one of the methods established by clause 64 of the Regulation on accounting and financial reporting.

A reserve can be created for the reduction in the value of work in progress, accounted for in account 14 "Provisions for the decline in the value of material assets" (Instructions for using the Chart of Accounts). Recall that the creation of estimated reserves is considered as a change in the estimated values ​​in accordance with clauses 2, 3 of PBU 21/2008.

1. Growing and fattening animals are accounted for on account 11 "Animals for growing and fattening" (on the corresponding subaccounts). Animals purchased from other organizations and individuals are accounted for at the actual cost of purchase (actual costs) or discount prices; transferred from the main herd - at the residual value or the original (replacement) value; offspring, weight gain and growth of animals - at the planned cost, adjusted at the end of the year to the actual cost of growing (clauses 9, 10, 12, 13, 14 of the Methodological Recommendations for the accounting of animals for growing and fattening, Instructions for the use of the Chart of Accounts) ...

The purchase of animals from other organizations and persons can be reflected using accounts 15 "Procurement and acquisition of material assets" and 16 "Deviations in the cost of material assets" (when using accounting prices) (paragraph 2, clause 45 of the Methodological recommendations on accounting for animals in rearing and fattening, Guidelines for the application of the Chart of accounts of agricultural organizations, Instructions for the use of the Chart of accounts, Guidelines for the correspondence of accounts of agricultural organizations). Animals in growing and fattening belonging to the organization, but on the way, are accounted for in accounting in the assessment provided for in the contract, with subsequent clarification of the actual cost (clause 62 of the Methodological Recommendations for accounting for animals in growing and fattening).

1. Selling costs products, goods, works, services, as well as costs associated with the procurement of agricultural raw materials, livestock and poultry (if the organization's accounting policy provides for their partial write-off from account 44 "Sales Expenses"), are subject to distribution as follows (Instruction on the application of the Chart of Accounts, Methodological recommendations for the application of the Chart of accounts of enterprises and organizations of the agro-industrial complex, paragraph 2, clause 228 of the Methodological guidelines for the accounting of inventories):

1) in organizations engaged in industrial and other production activities - the costs of packaging and transportation (between individual types of shipped products on a monthly basis, based on their weight, volume, production cost or other relevant indicators);

2) in organizations engaged in trade and other intermediary activities - transportation costs (between the sold goods and the remainder of the goods at the end of each month);

3) in organizations that procure and process agricultural products - expenses for the procurement of agricultural raw materials and expenses for the procurement of livestock and poultry.

1. Future spending are taken into account in the amount of actually incurred costs minus their part attributed to the expenses of past periods (clause 65 of the Regulations on accounting and financial reporting, paragraph 2, clause 39 PBU 14/2007, clause 16 PBU 2/2008, Letter of the Ministry of Finance Russia dated 12.01.2012 N 07-02-06 / 5, Appendix to the Letter of the Ministry of Finance of Russia dated 29.01.2014 N 07-04-18 / 01).

3.1.2.1.2. What accounting data is used

when filling in line 1210 "Inventories"

This line of the Balance Sheet indicates the cost of inventories, determined based on the methods used by the organization for assessing inventories, minus the created reserve for the reduction of their cost (clauses 58, 59, 61, 62, 64, 65 of the Regulations on Accounting and Financial Statements , p. 24, 25 PBU 5/01, p. 60, 61 of the Methodological Recommendations for the accounting of animals for growing and fattening, p. 20, 35 PBU 4/99).

Line 1210 "Inventories" = Debit balance on account 10 + Debit balance on account 11 + Debit balance on account 41 - Credit balance on account 42 + Debit balance on account 43 + Debit balance on account 15 +/- Balance on account 16 - Credit account balance 14 + Debit balance on account 45 + Debit balance on accounts 20,21,23,28,29 + Debit balance on account 97 (analytical account for accounting expenses with a write-off period not exceeding 12 months + Debit balance on account 44)

Organizations independently determine the detailing of the indicator for line 1210 "Inventories". For example, information on the cost of materials, finished products and goods, on costs in work in progress, if such information is recognized by the organization as material, can be separately provided in the Balance Sheet (paragraph 2, clause 11 PBU 4/99, clause 3 of the Order of the Ministry of Finance of Russia N 66n).

The indicators of line 1210 "Inventories" as of December 31 of the previous year and December 31 of the year preceding the previous one are transferred from the Balance Sheet for the previous year.

The column "Explanations" provides an indication of the disclosure of the indicator of line 1210 "Inventories". If the organization draws up the Explanations to the Balance Sheet and the Statement of Financial Results according to the forms contained in the Example of Explanations given in Appendix No. 3 to Order of the Ministry of Finance of Russia No. 66n, then in the column "Explanations" on line 1210 "Inventories", tables 4.1 and 4.2 are indicated ...

An example of filling in line 1210 "Inventories"

Indicators for accounts 10, 14, 20, 23, 41, 43, 97 in accounting as of December 31, 2014 (indicators for accounts 15 and 16, 21, 28, 29, 42, 44, 45 in accounting as of this date absent): rub.

Fragment of the balance sheet for 2013

Explanations	Indicator name	Code	At December 31, 2013	At December 31, 2012	At December 31, 2011
1	2	3	4	5	6
	II. CURRENT ASSETS
4.1,	Stocks	1210	22 437	18 632	15 487
	including:
	raw materials and supplies	1211	8622	6480	7600
		1212	9634	8200	4372
		1213	4120	3862	3415

Solution

The cost of the organization's inventory is:

as of December 31, 2014 - 14 704 thousand rubles. (2,469,600 rubles - 48,000 rubles + 4,000,000 rubles + 54,200 rubles + 5,160,000 rubles + 3,030,000 rubles + 38,000 rubles);

Including:

the cost of materials of the organization is:

work in progress costs are:

the cost of finished goods and goods for resale is:

A fragment of the balance sheet in example 2.1 will look like this.

Explanations	Indicator name	Code	At 31 December 2014	At December 31, 2013	At December 31, 2012
1	2	3	4	5	6
	II. CURRENT ASSETS
4.1,	Stocks	1210	14 704	22 437	18 632
	including:
	raw materials and supplies	1211	2422	8622	6480
	work in progress costs	1212	4054	9634	8200
	finished goods and goods for resale	1213	8190	4120	3862

Inventories

Inventories include: materials, finished products, goods.

Materials (edit)- one of the most important elements of the production cycle of any organization; they are objects of labor that are used to manufacture products, perform work, and provide services. Their peculiarity lies in the fact that, participating in the production process, materials are completely consumed in each cycle and completely transfer their value to newly created products (works, services).

Finished products- a part of inventories intended for sale, which is the end result of the production process, finished with processing (packaging), the technical and quality characteristics of which correspond to the terms of the contract or the requirements of the documents in cases established by law.

Goods- this is that part of the organization's inventory that is acquired or received from other legal entities and individuals and is intended for sale or resale without additional processing.

Inventories are delivered to the enterprise at the supplier's price, or as expressed in terms of the purchase price.

Inventories are taken into account at the enterprise at a book price... The use of the type of discount price is provided for in the order "On accounting policy for accounting purposes", and one of the types of discount prices allowed by the current legislation and the most economically suitable for this particular organization is selected. The following types of discount prices are used:

the cost of each unit - applies to inventories that are used by the organization in a special order (precious metals, precious stones, etc.)

average cost-traditional for domestic accounting. The average cost for each type (group) of inventories is determined as a quotient from dividing the total cost of the type (group) of inventories by their quantity. The most convenient way to automate accounting for this matter.

the cost of the first purchase of inventories (FIFO method) provides a relatively uniform impact on the amount of costs, i.e. first, the inventory balance at the beginning of the month is written off, then the inventory is written off at the price of the first purchased batch, then at the price of the second batch, and so on in order of priority until the total inventory consumption for the month is received. The use of the FIFO method in an inflationary environment makes it possible to reduce the cost of finished products due to the price factor for material resources, and the cost of inventories at the end of the reporting period will be close to current prices, which ensures the reality of their assessment

Note:
* Previously, another method of accounting for inventories was used - LIFO... Since January 1, 2008 the method LIFO excluded from the methods of assessing inventories (Order of the Ministry of Finance of the Russian Federation dated March 26, 2007 No. 26n).

Accounting documents

The material movement process consists of three stages:

-receipt of materials (goods) at the enterprise. At this stage, materials are accepted for accounting on the basis of primary documents, their cost estimate is made. Upon receipt of materials, on the basis of the invoice and the supplier's invoice, a Receipt Order Form N M-4 is drawn up (Issued if there are no quantitative and qualitative discrepancies between the supplier's data and the actual data. If a discrepancy is found in the assortment, quantity or quality, draw up act according to the form No. M-7.)

- consumption of materials in the enterprise. At this stage, materials are issued for the production of products, the correction of defects, maintenance of production, as well as for the management needs of the enterprise. The expenditure of materials is carried out at the accounting price accepted at this enterprise, with the registration of the Requirements of the waybill Form N M-11, the Limit-intake card of Form N M-8 can be issued. Consumption of materials at the enterprise is carried out at a book price. At the warehouses of enterprises, a material accounting card is kept in the form No. M-17, which serves to record the movement of materials stored in the warehouses of the enterprise. Accounting is carried out for each denomination, grade, article, brand, size and other characteristics (varietal accounting).

- disposal of materials from the enterprise... At this stage, accounting is made for materials leaving the enterprise as a result of sale, write-off, exchange, etc. When materials (finished products) are disposed of, an invoice is issued for the release of materials to the side of Form N M-15. When selling materials, goods and finished products, in addition to the invoice, an invoice is issued for the sale at the selling price. The invoice contains VAT payable to the budget from the sales amount under this invoice.

Accounting and postings

Inventory accounts

Accounting for materials is carried out on synthetic account 10 "Materials", on the following sub-accounts:
10.1 Raw materials and materials
10.2. Purchased semi-finished products and components, structures and parts
10.3. Fuel
10.4 Containers and container materials
10.5 Spare parts
10.6. Other materials
10.7 outsourced materials
10. 8. Building materials
10.9 Inventory and Household Supplies
10.10 Special equipment and special clothing in stock
10.11 Special equipment and special clothing in service

Finished products are recorded on account 40 "Release of finished products (works, services)" and on account 43 "Finished products". Goods are accounted for on the synthetic account 41 "Goods", using subaccounts 41.1 "Goods in warehouses", 41.2 "Goods in retail trade", 41.3 "Containers under the goods and empty", 41.4 "Purchased products".

Basic transactions for receipt of goods, goods:

Dt 10.41 Kt 60 receipt of goods and materials from suppliers, The basis for posting is the supplier's invoice and receipt order ФN М-4 or Act ФN М-7, supplier's price.
Dt19 Kt 60 Supplier's VAT has been accepted for accounting, Basis is the supplier's invoice.

Dt 10.41 Kt 71 from the accountable person, Basis - Advance report of the accountable person, with the attachment of supporting documents for the purchase of goods or materials (cash receipts, invoices, invoices) and a receipt order ФN М-4
Dt 10.41 Kt 75 from the founders Basis - The decision of the founders on the introduction of materials, indicating the assessment of the property being contributed and the receipt order ФN М-4, at the price specified in the Decision of the founders.
Dt 10.41 Kt 91.1 surplus identified in the inventory process Basis Inventory certificate, Collation statement and Certificate for posting surplus FN M-7, at a discount price
Dt 10.41 Kt 91.1 income from liquidation of fixed assets, Basis - Act for writing off fixed assets (form N OS-4), Act for writing off vehicles (form N OS-4а), receipt order FN M-4
Dt 10.41 Kt 20, 23 return of materials from the main and auxiliary production to the warehouse (saving materials), Basis-receipt order ФN М-4, at a discount price.
Dt 10.41 Kt 98 free transfer from other legal entities. The basis is an invoice of another legal entity, a receipt order ФN М-4.

Accounting for material write-off into production:
Dt 20.23 Kt 10(corresponding account) to the main and auxiliary production. Basis - consignment note - requirement ФN М-11, Limit - fence card ФN М-8.

Accounting for material write-off for sale (if the sale of goods and materials is not the main activity): Dt 91.2 Kt 10 sale, the sold material is written off at the book price, Basis is an invoice for the release of materials to the side of Form N M-15
Dt 62 Kt 91.1 The realization of the material is reflected at the selling price, the Basis of the waybill, the invoice.
Dt 91.2 Kt 68 The amount of VAT accrued to be paid to the budget according to the amount of material sold is reflected. The basis is an invoice for the sale of the material.

Accounting for retail goods. If the posting of goods in the wholesale is the same as the posting of materials, then in retail, with classical total accounting, the posting of goods, their accounting and write-off (upon sale and other disposal) has its own specifics. Goods in retail trade (in a store, kiosk or boutique) are accounted for at the retail price, hence the specifics of accounting for goods in retail.

Arrival of goods in retail
Dt 41 CT 60 - the Supplier's goods are capitalized at the purchase price, Basis - the invoice and the invoice of the supplier
Dt 19 Kt 60 - VAT taken into account by the supplier Basis - invoice of the supplier
Dt 41 Kt 42 - t. the goods are accounted for at the retail price, then a mark-up is made on the purchase price immediately upon the arrival of the goods, the retail price of the goods is set.

Reflection of the sale and write-off of goods sold in retail
Dt 50 Kt 90 - reflects the proceeds of cash registers of sales areas or departments Basis - ZET cash register report for the day + Pr. cash order for the receipt of the proceeds of the hall.
Dt 90 Kt41 - since the goods are recorded in trade at the retail price, then at the same time, the amount of proceeds from the sale is written off exactly for the same amount of goods from the remainder of the goods in the trading floor.

Describing goods in retail from damage
Dt 94 Kt 41 - write-off of goods from the balance of goods in the trading floor at the purchase price.
Dt 42 Kt 41 - writing off the retail margin from the balance of goods in the trading floor

The act of mark-up of goods of goods in retail
Dt 41 Kt 42 - t. the product is in retail at the retail price and it is still marketed, then a posting is made for the revaluation amount. Basis - The act of markup of goods.

The act of markdown of goods of goods in retail
Dt 42 Kt41 - the sum of the product scholarship. Basis - Act of markdown of goods.

Returning goods to a retail supplier
Dt 60 Kt 41 - the amount of the return of the goods to the Supplier is reflected at the purchase price. Basis - Contract, Act, Letter - priteniya, etc.
Dt 42 Kt 41 - the amount of the margin is deducted from the amount of the balance of the trading floor.

Accounting for finished products Finished goods are a specific inventory. An enterprise that produces finished products for sale takes into account finished products in one way or another, depending on the industry affiliation (production of industrial goods, production of homogeneous raw materials for other industries, energy production, construction, catering, timber processing, consumer services, etc.) ...

In the general case, the finished product is taken into account in one of two ways (if we ignore the industry specifics):
-According to the actual production cost;
- at the standard (planned) cost (using account 40).
The most acceptable, for our economy, in the opinion of the author of this work, is still the method. For various reasons that make it difficult to apply the method of "planned (normative) cost": 1. Inflation. 2. Renewal of materials of production and means of labor. 3. Frequent changes in legislation.

Postings by method "at actual production cost":
1) Dt 43 Kt 20,23 Finished products were entered into the warehouse at the actual production cost of the main and auxiliary production
2) Dt 90.2 K 43 The actual production cost of finished products sold was written off

The unit cost of a product with this method is determined as follows: On account 20, material inputs are collected during a month, using the method adopted in this industry, it can be a production report, a sawing report, a report on the kitchen (workshop). The specifics of the industry determines the specifics of the report by production. Production reports are compiled daily and contain information on production for a working day (or shift), product output, raw material consumption, and other indicators (for example, the sawing ratio). On account 20 (on account 23), at the end of the month, salaries are calculated for production personnel and accrued to funds. At the end of the month, data appears on the amount of energy consumed for this production, general operating costs, the sum of all actual costs determined at the end of the meat for 1 unit. product and gives the cost of the product. Many authors of works on accounting consider the disadvantage of this accounting method that complete information on accounting can be obtained only at the end of the calendar month. The author of this work believes that, on the contrary, this method is the most accurate in comparison with the method "according to the standard (planned) cost".

Due to the brevity of the course - the method of accounting for finished products "at the standard (planned) cost" is not considered in this work.

Assets used as raw materials, materials, etc. in the production of products intended for sale (performance of work, provision of services), purchased directly for resale, as well as used for the management needs of the organization.

Accounting Tasks Inventory

The main tasks of accounting in this area:

control over the safety of material values ​​in places of their storage and at all stages of processing;

correct and timely documentation of all operations for the movement of material assets; identification and reflection of the costs associated with their procurement; calculation of the actual cost of consumed materials and their balances by storage locations and balance sheet items;

systematic control over the observance of the established norms of stocks, identification of surplus and unused materials, their implementation;

timely implementation of settlements with suppliers of materials, control over materials in transit, non-invoiced deliveries.

Classification of inventories in accordance with PBU

Accounting for inventories must be carried out in accordance with PBU 5/01 "Accounting for inventories" (approved by order of the Ministry of Finance of Russia dated 09.06.01 N 44n).

According to the above-mentioned PBU, the composition of inventories includes: raw materials, materials, etc., used in the production of products for sale, assets used for management needs, intended for sale, as well as goods purchased or received from others. legal entities or individuals or held for sale.

The bulk of the inventories is used as objects of labor and in the production process. They are entirely consumed in each production cycle and completely transfer their value to the value of the products produced.
Depending on the role played by various industrial stocks in the production process, they are divided into the following groups:

raw materials and basic materials;

auxiliary materials;

purchased semi-finished products;

waste (returnable), fuel;

containers and container materials, spare parts;

inventory and household supplies.

In addition to the nomenclature number, the accounting unit of the inventories can be a batch, a homogeneous group, etc.

At the same time, the selected unit must ensure the formation of complete and reliable information about stocks, as well as proper control over their availability and movement.

Accounting for inventories on accounting accounts

To account for inventories, the following synthetic accounts are used:

Off-balance sheet account "Special equipment transferred to operation".

Forms of primary documentation

Inventory accounting is carried out on the basis of the following primary documents: a receipt note, a power of attorney, an act of acceptance of materials, a limit pick-up card, requirements, an invoice for internal transfer, an invoice for the issue of materials, a warehouse inventory card, a statement of material balances in the warehouse.

Assessment of inventories

Capitalization of inventories

In accordance with PBU 5/01, inventories are accepted for accounting at their actual cost.

The actual cost of inventories purchased for a fee is the amount of the organization's actual acquisition costs, excluding value added tax and other recoverable taxes (except as provided for by the legislation of the Russian Federation).
The actual costs of acquiring inventories may be:

amounts paid in accordance with the contract to the supplier (seller);

amounts paid to organizations for information and consulting services related to the purchase of inventories;

customs duties and other payments;

non-refundable taxes paid in connection with the acquisition of a unit of inventories;

remuneration paid to the intermediary organization through which the inventories were purchased;

costs of procurement and delivery of inventories to the place of their use, including insurance costs;

• other costs directly related to the acquisition of inventories.

Assessment of inventories at disposal

In accordance with PBU 5/01, when inventories are released into production and otherwise disposed of, their assessment is made by the organization (goods accounted for at the selling (retail) value) using one of the following methods:

at the cost of each unit;

at the average cost;

at the cost of the first purchase of inventories (FIFO method);

The application of one of the methods by type (group) of stocks is carried out during the reporting year.

Inventory of refineries

In accordance with the requirements of regulatory enactments in the field of accounting, at least once a year, an organization must conduct an inventory of its property (assets).

During the inventory, the actual presence of the corresponding objects of property (assets) is revealed, which is compared with the data of the accounting registers.

The procedure for conducting an inventory (the number of inventories in the reporting year, the dates of their holding, the list of property checked for each of them, etc.) is determined by the head of the organization, except for cases when the inventory is mandatory.

Reflection in the balance sheet of data on inventories

Data on inventories (inventory balance at the end of the period) in the balance sheet are reflected under the item "Inventories".

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Inventories (MPZ): details for the accountant

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  PBU 5/01 "Accounting for inventories" (hereinafter - PBU 5/01 ... Methodological instructions for the accounting of inventories (approved by order of the Ministry of Finance of the Russian Federation from ... USN; - Encyclopedia of solutions. Accounting stocks; - Encyclopedia of solutions. Acquisition accounting ...

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  The costs associated with the acquisition of inventories. Meanwhile, delivery services .... Secondly, semi-finished products are not inventories, but belong to work in progress ... act - PBU 5/01 "Accounting for inventories." In it, semi-finished products of its own production ... also finished products are part of the inventories intended for sale (the end result ...

• On the period of use and qualification of assets and liabilities

  In PBU 5/01 "Accounting for inventories" and 6/01 "Accounting for basic ... in PBU 5/01" Accounting for inventories "and 6/01" Accounting for basic ...

• Losses from shortage and damage to the MPZ: on the rates of natural loss and not only

  ...) damage during storage and transportation of inventories (MPZ) can be accounted for for purposes ...) damage during storage and transportation of inventories (MPZ) can be taken into account for purposes ...) damage during storage and transportation of material - production stocks. The procedure for accounting for this type of expenses ...

• Is it possible to transfer fixed assets with a residual value of less than 40 thousand rubles? to the composition of the MPZ?

  Categories of fixed assets in the category of inventories? The organization carries out production activities. In ... category of fixed assets to category of inventories? On this issue, we adhere to ...; Accounting for inventories ", as well as Methodological guidelines for the accounting of inventories, approved by ...

In line 1210, data is entered on the total value of the company's inventories recorded as of December 31, 2015. The decoding of the data of line 1210 by groups and types of stocks held by the organization is given in section 4 of the Explanations to the balance sheet and the statement of financial results. So, for example, data can be given here:

• on the cost of raw materials and materials not written off for production, recorded in the debit of accounts 10 "Materials", 15 "Procurement and acquisition of material assets", 16 "Deviation in the cost of material assets";
• on the value of goods intended for resale, recorded in the debit of account 41 "Goods";
• on the cost of finished products, recorded in the debit of account 43 "Finished products";
• on the cost of finished products and goods shipped to customers, recorded in the debit of account 45 "Goods shipped";
• on the amount of costs in work in progress recorded on accounts 20 "Main production", 23 "Auxiliary production", 29 "Service production and facilities";
• on the amount of the amount of costs of calls not written off to accounts for accounting for proceeds from sales, recorded in the debit of account 44 "Costs of circulation";
• on the amount of unwritten deferred expenses recorded in the debit of account 97 "Prepaid expenses".

Raw materials and supplies

Raw materials and materials include material values ​​that are the basis for the manufacture of a particular product, are included in its composition or are necessary components in its manufacture. In addition, raw materials and materials are considered resources that are fully used in the course of the company's activities. According to the Chart of accounts of accounting, these types of values ​​also include: purchased semi-finished products; finished components; fuel (oil, kerosene, gasoline, etc.) and lubricants; container; spare parts for the repair of fixed assets; production waste (stumps, trimmings, shavings, etc.); inventory, tools and household items that are not included in fixed assets; special clothing.

Accounting for such property is regulated by PBU 5/01. According to paragraph 5 of the document, raw materials and materials are taken into account at their actual cost.

The indicator of line 1210 includes the initial cost of raw materials and materials not written off to production as of December 31, 2015. It is accounted for in the debit of account 10 "Materials". This line of the balance sheet shows the debit balance of this account as of the mentioned date.

Materials can be reflected both at the actual cost and at the accounting (planned) prices. When using the second option, their cost is formed using accounts 15 "Procurement and acquisition of material assets" and 16 "Deviation in the cost of material assets". In this situation, on line 1210 of the balance sheet, indicate the debit balance of account 10 (book price of materials), 15 (cost of materials in transit) and 16 (deviations). If the balance on account 16 is credit, then it reduces the cost of materials, according to which they are reflected in the balance sheet.

The firm has the right to create a provision for impairment of the cost of raw materials and materials. Its amount is taken into account on the credit of account 14 "Provisions for the depreciation of material assets". If there is a reserve, its amount reduces the cost of materials, according to which they are reflected in the balance sheet.

Formation of the actual cost of materials ...

The actual cost of materials is calculated based on all costs associated with the acquisition of this property (excluding VAT, if the company accepts it for deduction). According to paragraph 6 of PBU 5/01, such costs, in particular, include:

• amounts paid to the supplier of materials;
• expenses for information and consulting services related to the purchase of materials;
• customs duties accrued when importing materials into the territory of Russia;
• the costs of paying for the services of the intermediary through which the materials were purchased;
• costs of procurement and delivery of materials to the place of their use;
• material insurance costs;
• expenses for the maintenance of the procurement and warehouse division of the company;
• interest expenses on commercial loans provided by material suppliers;
• expenses for the payment of interest on bank loans received for the purchase of materials and accrued prior to their posting;
• costs of bringing materials to a state suitable for use for the planned purposes (for example, for their processing, sorting, packaging, improving technical characteristics);
• general business expenses directly related to the purchase of materials.

Like any other property, materials can be obtained in several ways. For example, purchased for a fee, manufactured by the company itself, received as a contribution to the authorized capital or free of charge, purchased as part of exchange (barter) transactions, capitalized as a result of disassembling and dismantling fixed assets. Depending on the method of purchasing materials, the company forms their initial cost.