Perpetual Inventory Control/commingled Bingo Paper (Page 3 of 3) in pdf

LG901 Inventory Control Commingled Paper: Instructions

The LG901 is an ongoing inventory of bingo sheets or packets of the same type, but with

different serial numbers, that are inventoried and commingled under one control number.

The sheets or packets must first be accounted for on the LG900, and then transferred to

the LG901 under a new control number. A separate LG901, completed in ink, must be

maintained for every type of bingo paper commingled together in inventory.

BINGO PAPER INFORMATION

PERPETUAL INVENTORY INFORMATION

Color

Column 1

Column 7

Enter the color of the bingo paper

Enter the date of the transaction.

Column 5 minus column 6 is the

commingled. If a packet, enter

This includes the dates received,

number of sheets or packets sold.

the color of top sheet only.

leaving inventory, returning to

If this is a transfer from LG900,

inventory, or adjustments made

enter 0 (no sale).

Description

due to a physical inventory count.

Briefly describe the type of paper

Column 8

commingled, for example,

Column 2

(The first entry for this column

Blackout Special, $10 packets,

Enter the initials of the person

will be the same as column 6.)

breakopen, etc.

handling the inventory.

The price for which this bingo

Column 4 minus column 5 plus

Column 3

paper will be sold to your

column 6 equals the ending

Record the control number from

bingo players

balance. Transfer the amount in

each LG900 only when paper is

column 8 to column 4 of the next

This figure must be identical to

transferred to the LG901 for

the cost per packet or single

line for the next starting balance.

commingling. Thereafter, the

sheet appearing on the LG900 for

control number from the LG900 is

this packet or sheet.

Column 9

no longer used on this form. The

Use this column to identify how

commingled paper will now be

New control number

paper was used, such as

recognized under the new control

Assign a control number to this

transferred, floor sales, admission

number.

inventory sheet. Keep in mind

sales, etc., and to identify any

that the control number will

adjustments made due to a

Column 4

follow the bingo paper through

variance in physical inventory

Enter the number of sheets or

the accounting system. The

count from column 5 of the

packets commingled. The first

control number must not be a

LG903.

entry will be 0. Subsequent

duplicate of a control number

entries are from column 8.

used on other current inventory

What do we do with bingo

forms, LG900, LG901, or LG902.

paper that is spoiled while in

Column 5

our possession?

For bingo paper sheet packets,

Enter the actual number of sheets

the control number may be the

or packets taken from inventory.

An organization must account

serial number printed by the

Paper will be used from this form

for all bingo paper purchased.

for:

manufacturer on the top sheet of

A significant loss of bingo paper

the packet or any alphanumeric

• LG902 Bingo Paper Packages

through spoilage must be entered

or numeral symbol.

on the appropriate perpetual

• LG904 Admission Sales

inventory form--Form LG900,

• LG906 Floor Sales

LG901, LG902, and LG930.

Number of faces per sheet

Keep the spoiled paper for

(ON’S)

Enter the number of

Column 6

3-1/2 years as supporting

The first entry for this column is

documentation for the

faces (separate bingo grids) on

from column 4 of the LG900.

inventory entries.

each sheet of bingo paper.

For a significant quantity of

Count the number of sheets or

spoiled paper, contact the

Number of sheets (UP’S)

packets returned or added to

Department of Revenue for

Enter the number of bingo sheets

inventory and enter the amount

collated.

written authorization to destroy

in column 6.

the spoiled paper.

Perpetual Inventory Control/commingled Bingo Paper Page 3

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