Each enterprise, depending on the characteristics of its production and business, applies the inventory value method, can choose the methods that are convenient in the calculation process but must be used consistently in accounting.
Currently, according to Circular 200 (Circular No. 200/2014 / TT-BTC), there are 3 common methods to calculate inventory value, they are:
- Specific Identification Method
- Weighted average method after each importation or at the end of the period
- First in, first out method
Which method enterprise chooses to calculate the value of inventories must ensure consistency throughout the accounting year.