Inventory Reconciliation

Page 1 of 3 (Rev. 02/25/16)

Instructions: Complete the sections below. The completed form must be signed by the department head and their supervisor. Send the completed form to the Assistant Vice President Financial Affairs/Controller. For more information, see administrative guideline 2.7.3 - Inventory for Resale: Management Guidelines for Service Centers.

To: Assistant V.P., Financial Affairs/Controller

From: Date:

Department name:

Re: Resale Inventory as of August 31,

Attachments: Surplus Receipts Additional Obsolete Inventory Sheets

Section I. Memorandum

The goods held for resale as of August 31, was inventoried by

and on (MM/DD/YY) .

My signature below indicates my review and approval of this inventory as an accurate report of the quantities and values of

the items held by this department.

Net Dollar Value of consumable inventory: $

Preparer Signature Date

Printed Name: Title:

Department Manager Signature Date

Printed Name: Title:

Supervisor Certifying Signature Date

Printed Name: Title:

DEPTID: Cost Center:

Inventory Reconcillation

Page 2 of 3 (Rev. 02/25/16

Section II. Obsolete Inventory AdjustmentsInstructions: Complete the fields below for all obsolete inventory disposed throughout the year. Surplus receipts must be attached.

Item# Description Quantity Unit Cost Value

Total Value

Inventory Reconcillation

Page 3 of 3 (Rev. 02/25/16

Section III. ReconciliationInstructions: Complete the fields below. If a variance exists, the Department Manager must provide an explanation in the fieldprovided.

1. Beginning Inventory Value A

2. Purchases for Resale B

3. Inventory Consumed C

4. Inventory Disposed (Obsolete) D

5. Projected Inventory Value E (A+B-C-D)

6. Actual Inventory Value, 8/31/ F

Variance (E-F)

Explanation of variance: