Inventory Cost Accountant

JOB DUTIES AND RESPONSIBLITIES:

• Inventory Control & Reconciliation: Perform monthly reconciliations between the sub-ledger inventory balances and the general ledger. Investigate and resolve inventory discrepancies.
• Cost Assignment: Assigning costs to products, including direct costs and indirect costs
• Cost Analysis: Maintain and update standard costs for raw materials, work-in-progress (WIP), and finished goods. Analyze and report on variances, including material usage, labor efficiency, and overhead absorption.
• Month-End Close: Prepare and post inventory-related journal entries. Calculate and record reserves for slow-moving, excess, and obsolete (SLOB) inventory.
• Auditing & Compliance: Coordinate and oversee physical inventory counts and routine cycle counting programs. Ensure compliance with internal controls and GAAP standards.
• Process Improvement: Partner with operations, purchasing, and warehouse teams to improve inventory tracking workflows and reduce production waste.
• Data Entry Review: Review and analyze production data for accuracy and reasonableness. Investigate and make corrections as necessary.