Authority and currency
About this authority
- Publisher
- Financial Accounting Foundation
- Standing
- Primary authority
- Version
- Topic 330 as accessed 2026-08-08
- Relevant parts
- Topic 330, Inventory
- Currency
- current · checked Aug 8, 2026
Use Topic 330 to research inventory accounting under United States generally accepted accounting principles (US GAAP). It addresses which costs belong in inventory, how those costs are assigned, and how later measurements affect the reported amount.
Start with the company's goods and accounting method, then locate the current requirements that apply. Check the contracts and shipping records as well as the inventory schedule. A correct units-times-cost calculation does not prove that the company owns the goods or that every included cost belongs in inventory.