SMSEs' Inventory Recording Procedure in an Excel-Based Inventory Subsidiary Ledger Using the Weighted Average Method
DOI:
https://doi.org/10.61656/sbamer.v6i2.542Keywords:
inventory subsidiary ledger, perpetual inventory, weighted average method, SDG 8Abstract
Purpose: This study describes and analyses the procedure for recording inventory in an Excel-based inventory subsidiary ledger at CV ABC, a trading company that sells medical devices, and explains how the weighted average method is applied to determine the cost of goods sold and ending inventory.
Method: The study implements a qualitative descriptive single-case study. Data were collected through participant observation during an internship and documentation of the client's stock report, the ending inventory of the previous period, the purchase report, and sales invoices for October 2024, supplemented by consultations with the field supervisor. The data were analysed through data reduction, data display, and conclusion drawing, and the observed practice was compared with subsidiary ledger, perpetual inventory, item coding, and cost-formula concepts.
Findings: The subsidiary ledger consists of four integrated sheets: item codes, stock report, purchases, and sales. The stock report sheet contains five linked tables (item data, beginning inventory, goods in, goods out, and ending inventory). Recording follows five steps: entering item codes, carrying forward beginning inventory from the previous period's ending inventory, entering purchases, entering sales, and checking the stock report. Formula links between sheets remove repetitive manual input, and the weighted average formula produces one unit cost per item per month that is applied consistently to goods sold and ending inventory. The design tracks quantities continuously but computes cost on a monthly weighted-average basis, which should be recognised when the ledger is described as perpetual.
Implication: The documented procedure can serve as a working guide for accounting staff, interns, and small trading businesses that keep inventory records in spreadsheets, and it highlights the importance of meaningful item codes, opening-balance reconciliation, and periodic formula checks for the accuracy of records. The study also supports SDG 8 (decent work and economic growth) through training-based skill development and reliable record-keeping.
Originality: The study documents a practice-based, step-by-step inventory recording procedure and links subsidiary ledger theory, item coding, the weighted-average cost formula, and spreadsheet-risk controls within a single spreadsheet design.
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