Oil & Gas
Refined Product Inventory — Gasoline and Diesel
Transferring refined products from the refinery production process into finished goods inventory.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Refined Product Inventory (Gasoline) | Asset (+) | 25,000,000.00 | - |
| Refined Product Inventory (Diesel) | Asset (+) | 35,000,000.00 | - |
| Work-in-Process (Refinery Cost Pool) | Asset (-) | - | 60,000,000.00 |
💡 Accountant's Note
Refinery output transfers from WIP to finished goods at production cost. Yields are measured by volume and quality testing. The refining margin (product revenue less crude cost plus processing cost) is the key profitability metric.
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