Sr. Inventory Cost Accountant

States Manufacturing Corporation; Northern (KY); Hybrid; USD 75,000 - 110,000; Full time

Job summary

Forgent Power is seeking a Senior Inventory Cost Accountant in the United States to oversee inventory valuation, product costing, and manufacturing cost analysis. The role supports month-end close, analyzes variances, and partners with Operations and Supply Chain to improve cost transparency and financial performance.

The position emphasizes strong internal controls, adherence to GAAP, and continuous improvement in costing processes.

Qualifications

• Bachelor's degree in accounting or finance is required.
• 4–7+ years of progressive accounting experience, 2+ years in cost accounting/manufacturing finance.
• Strong GAAP knowledge, inventory valuation methods, and standard costing.
• Advanced Excel skills and experience analyzing large datasets.
• Experience with complex reconciliations and variance analyses.
• Excellent communication and cross-functional collaboration skills.
• Attention to detail and deadlines are essential.

Responsibilities

• Maintain and reconcile inventory balances across all locations (raw materials, WIP, finished goods).
• Monitor and validate inventory transactions for accurate costing and allocation.
• Calculate and maintain standard costs; assist with annual cost roll-ups and BOM reviews.
• Analyze variances including PPV, manufacturing variance, and labor/overhead absorption.
• Support physical counts, cycle counts, and discrepancy investigations.
• Prepare journal entries for inventory, COGS, accruals, and manufacturing activities.
• Complete monthly inventory reconciliations and supporting schedules for financials.
• Analyze cost trends to explain margin fluctuations and operational performance.
• Assist audits related to inventory and manufacturing accounting.

Skills

Advanced Excel

GAAP/Costing

Variance analysis

Cost accounting

Cross-functional collaboration

Education

Bachelor's degree in Accounting/Finance

Tools

ERP systems

Costing modules

Job description

Description

We are seeking a Sr Inventory Cost Accountant who is responsible for overseeing all aspects of inventory valuation, product costing, and manufacturing cost analysis. This role ensures the accuracy of inventory records, supports month-end close activities, analyzes variances, and partners closely with Operations and Supply Chain to enhance cost transparency and improve financial performance. The Sr Inventory Cost Accountant plays a key role in maintaining strong internal controls, ensuring compliance with GAAP, and supporting continuous improvement within the costing and inventory processes.

Key Responsibilities:

• Maintain and reconcile inventory balances across all locations, including raw materials, WIP, and finished goods.
• Monitor and validate inventory transactions to ensure accurate costing and allocation.
• Calculate and maintain standard costs; assist in annual cost roll-ups and BOM reviews.
• Analyze and reconcile variances including purchase price variance (PPV), manufacturing variance, and labor/overhead absorption.
• Support physical inventory counts and cycle count programs; investigate and resolve discrepancies.
• Prepare and review journal entries related to inventory, cost of goods sold (COGS), accruals, and manufacturing activities.
• Complete monthly inventory reconciliations and prepare supporting schedules for financial statements.
• Analyze cost trends and provide insights into margin fluctuations and operational performance.
• Assist with quarterly and annual financial audits related to inventory and manufacturing accounting.
• Partner with Operations, Supply Chain, and Engineering to evaluate costing impacts of process changes, scrap, waste, and productivity improvements.
• Provide analysis for make/buy decisions, cost savings initiatives, and capital investment reviews.
• Identify opportunities to streamline processes, strengthen internal controls, and improve data accuracy.
• Support implementation of ERP enhancements, costing modules, and system upgrades.
• Ensure adherence to GAAP, company accounting policies, and cost accounting standards.
• Maintain and enforce strong internal controls around inventory and manufacturing processes.
• Support the development of policies and procedures related to inventory, costing, and financial operations.

Qualifications:

Required:

• Bachelor's degree in accounting, Finance, or related field
• 4-7+ years of progressive accounting experience, with at least 2 years in cost accounting or manufacturing finance
• Strong understanding of GAAP, inventory valuation methods, standard costing, and cost accounting principles
• Advanced Excel skills with proficiency in analyzing large datasets
• Experience performing complex reconciliations and variance analyses
• Strong communication skills with the ability to collaborate effectively with cross-functional teams
• Excellent attention to detail, organizational skills, and ability to meet deadlines

Preferred:

• Experience working in a manufacturing environment, ideally in multi-site operations
• Experience with ERP systems and costing modules
• Familiarity with BOM structures, routings, and manufacturing processes
• Experience supporting continuous improvement, Lean, or Six Sigma initiatives
• CPA, CMA, or progress toward certification

Disclaimer: The statements above are intended to describe the general nature and level of work being performed. They are not an exhaustive list of all responsibilities, duties, or skills required. Forgent Power reserves the right to modify, interpret, or apply this job description as needed.

Equal Employment Opportunity Statement: Forgent Power is an equal opportunity employer. We are committed to creating an inclusive environment for all employees. Employment decisions are made without regard to race, color, religion, sex, national origin, age, disability, veteran status, or any other protected class.

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