RETURNABLE CONTAINERS - 8765

Agencies will maintain memorandum stock cards for returnable containers, such as oil drums and gas cylinders, which are purchased, for which deposits are required, or for which they are held responsible. Returnable containers received or returned will be recorded on appropriate accounting documents, such as Stock Received Reports and Returned Stock Received Reports, so that the accountability of the organizational unit having custody can be recorded on the memorandum stock card. The transfer of containers from the custody of one unit to another will also be recorded. Periodically, the quantity of returnable containers recorded as on hand will be verified by physical count. Documents for containers returned will be maintained in a pending file until credit is received from the vendor. Agencies maintaining a Purchased Stores Ledger will not include the value of returnable containers on hand in the annual computation for valuing the Purchased Stores Ledger inventory.