Formula 1:
Total Cost of Fixed (or Capital) Assets in Fixed Asset Inventory = Total Amounts for Fixed (or Capital) Assets* in Fixed Asset Fund in General Ledger + Total Amounts for Fixed (or Capital) Assets* in Food Service (Nutrition) Fund in General Ledger (if applicable)
*Total of Balance Sheet Accounts for Various Groups of Fixed (or Capital) Assets (for example, Balance Sheet Accounts for Land, Buildings, Machinery and Equipment, etc.)
Formula 2:
Total Cost of Current Assets in Fixed Asset Inventory at End of Fiscal Year = Previous Fiscal Year’s Total Cost of Current Assets + Total Cost of Assets Purchased in Fiscal Year – Total Cost of Assets Disposed in Fiscal Year + Total Cost of Existing Assets Not Previously Entered Until this Fiscal Year** (if applicable)
**Existing assets not previously entered until this fiscal year are those assets that were purchased prior to this fiscal year, but had not been entered into the Fixed Asset Inventory module until this fiscal year (for example, an asset that is 10 years old was just entered into the Fixed Asset Inventory module this fiscal year).