Inventory Tracking Template
Track stock levels, reorder points, and inventory valuation.
What's Included:
- SKU-level inventory ledger with quantity on hand and location
- Reorder point alerts triggered when stock falls below minimum levels
- Inventory valuation using FIFO, LIFO, or weighted average methods
- Stock movement log tracking every receipt, sale, and adjustment
Available Formats:
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Inventory is cash sitting on shelves—too much ties up working capital, too little means lost sales. This template helps you find the sweet spot by tracking stock levels in real time and alerting you when items need to be reordered. Every stock movement is logged for audit trails and shrinkage detection.
The inventory valuation feature is essential for financial reporting and tax purposes. This template supports FIFO (first-in, first-out), LIFO (last-in, first-out), and weighted average methods. Your choice of method affects your reported cost of goods sold and ending inventory value, so consult your accountant if you are unsure which to use.
How to Use This Template
Add Your Products
Enter each SKU with its description, unit cost, selling price, reorder point, and storage location. The template creates a tracking row for each item.
Record Stock Movements
Log every inventory change—receipts from suppliers, sales, returns, adjustments, and transfers. The template updates quantities and valuations automatically.
Review Alerts and Reorder
Check the reorder alert dashboard to see which items have fallen below minimum levels. Place purchase orders and record incoming stock when it arrives.
Frequently Asked Questions
How do I set reorder points for my inventory?
Reorder point = (Average Daily Sales × Lead Time in Days) + Safety Stock. For example, if you sell 10 units per day and your supplier takes 7 days to deliver, with 20 units of safety stock, your reorder point is 90 units. This template calculates reorder points automatically.
What is the difference between FIFO and LIFO inventory valuation?
FIFO assumes the oldest stock is sold first, resulting in lower COGS and higher profit when costs are rising. LIFO assumes the newest stock is sold first, resulting in higher COGS and lower taxable income. Most businesses use FIFO. This template supports both methods.
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