The Inventory Report is a summary of the amount of inventory a business has at the start of the specified reporting period and then again at the end of that period. It can be used to work out the change in value of a businesses inventory which is required for certain tax entities.

At the top of the Inventory Report, you will find the report summary, which will look similar to the above image. This is a high level summary of the change in value over a certain reporting period. The Repost summary will be broken down into three areas as explained below:

Total Start Value: The total value of all assets held at the stated start time of the report.

Total End Value: The total value of all assets held at the stated end time of the report.

Total Change in Value: This is the change in value of all assets held at the start of the report period as apposed to the end of the report period.

Total End Value - Total Start Value = Total Change In Value

Below the summary page, you will get down to the raw data that makes up this report. This part of the report is called the Inventory Breakdown Summary and it will include all the data that makes up the report summary up the top. Each of these rows will show an asset that was held during your specified reporting period. The data for these transactions will then be broken down into five columns:

Currency: The asset that was held during the specified reporting period.

Opening Cost: The cost base of the asset held at the start of the specified reporting period.

Opening Value: The market value of the asset held at the start of the specified reporting period.

Ending Cost: The cost base of the asset held at the end of the specified reporting period.

Closing Value: The market value of the asset held at the end of the specified reporting period.

Scrolling further down the report, just past the half way point you will reach the Inventory Balances as seen in the above image. The Inventory Balances will be broken down into three columns as explained below:

Currency: This will be the asset that was held during the specified reporting period. Opening Balance: The amount of that asset that was held at the start of the specified reporting period.

Closing Balance: The amount of that asset that was held at the end of the specified reporting period.