Stores ledger
A stores ledger records material receipts, issues, returns and balances, usually including quantities and values for each inventory item. It supports material control and the assignment of issue costs using FIFO or a specified average-cost method. Detailed stores records may reconcile to a general-ledger inventory control total. Physical counts remain necessary because apparently complete records do not prove that the materials exist or remain usable.
Worked example
An item record starts with 100 units, receives 50 and issues 80, leaving 70 units before any losses or corrections. Value the movements using the stated cost formula.
Common mistake
A stores ledger is not the same as a bin card that may track quantities only, and neither automatically proves correct physical stock.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | MA | Direct | September 2026–June 2027 |
| FIA | FMA | Direct | September 2026–June 2027 |