All purchases of inventoriable goods are to be recorded by using the Finance System account range 030000-049999.
The Selection of the Specific Account Codes is Determined by the Type of Inventory
The value of a department’s inventory normally fluctuates due to purchases and sales that occur during each accounting period. The m-Fin Financial Detail report presents the amount of sales and provides the amount for the cost of goods sold.
Inventories increase when purchases are made or when goods are returned by customers. Inventories decrease as a result of sales, consumption of goods, or when goods are returned to vendors.
Each department with an inventory is required to keep inventory records. These records must clearly and accurately show the actual inventory count and inventory valuation at any given date. Such records can be as sophisticated as an inventory software package or as simple as an Excel spreadsheet. CCO recommends that each department sets up a SpeedType that will be used for the tracking of inventory transactions.  After set-up, notify CCO’s debt and asset manager of its intended use.