Inventory and stock list of a limited liability company

If your limited liability company has products, supplies, or materials in stock that are intended for sale to customers or are used to provide services (for example, hair dyes in a hair salon), you must carry out an inventory count at the end of the financial year.

The value of the inventory is reported by preparing an inventory list, and the value is always calculated based on the stock levels on the last day of the financial year.

The inventory list serves as the basis for recording the change in inventory value in the financial statements, and it must be submitted to us along with other required financial statement information and documents.

The inventory list must include:

• Company name and Business ID
• Products, supplies, or materials for sale or use
• Quantities of products, supplies, or materials (in units, kilograms, liters, cubic meters, packages, or another appropriate unit of measurement)
• The purchase price per unit (excluding VAT) for each product, supply, or material, or a lower probable selling price
• The total combined value of the inventory (excluding VAT)
• The date of the inventory, as well as the signature and printed name of the person who prepared it

Here is an example of how products, supplies, and materials should be itemized in the inventory list: