Inventory and Cost Accounting Specialist

Job Description

Job Description

Inventory and Cost Accounting SpecialistAbout the Role

At Lakeland, what we make matters — and knowing what it costs, where it is, and how it moves through our operations matters just as much.

The  Inventory and Cost Accounting Specialist plays a critical role in helping Lakeland maintain accurate inventory, reliable costing, and strong financial visibility across our manufacturing operations. This position is responsible for maintaining inventory and costing records, supporting standard cost processes, reconciling inventory balances, analyzing manufacturing and purchase price variances, and maintaining appropriate inventory reserves.

This role is perfect for someone who enjoys connecting the dots between  Finance and the factory floor . The Specialist partners closely with Accounting, Purchasing, Operations, Supply Chain, and other teams across Lakeland to investigate inventory discrepancies, maintain accurate costing data, and identify opportunities to strengthen inventory and cost-control processes.

The position also supports month-end and year-end close activities, audit requirements, and the integrity of inventory and costing information within Lakeland’s ERP system. Whether researching a variance, validating inventory, or helping improve a process, this role helps ensure our financial data reflects what is truly happening across the business.

At Lakeland, protecting people is at the heart of what we do. Behind every product we manufacture is a team working to ensure we operate responsibly, efficiently, and profitably. By providing timely, accurate, and actionable inventory and cost information, the Inventory and Cost Accounting Specialist helps Lakeland make smarter business decisions, strengthen financial controls, and continue delivering products that protect people around the world.

ResponsibilitiesCost Accounting

• Maintain and support standard costing processes for manufactured and purchased inventory.
• Support periodic standard cost rolls and validate resulting inventory and product costs.
• Analyze purchase price variance (PPV), manufacturing variances, material usage variances, labor variances, overhead variances, and other cost-related discrepancies.
• Investigate significant cost variances, identify root causes, and communicate findings and recommended corrective actions.
• Assist in the development, maintenance, and improvement of cost accounting systems and reporting used to track manufacturing costs and profitability.

Inventory Accounting and Reconciliations

• Maintain and reconcile inventory records to ensure accuracy between physical inventory, inventory subledger balances, and the general ledger.
• Perform inventory subledger-to-GL reconciliations and investigate unexplained differences or system discrepancies.
• Review inventory transactions for accuracy, completeness, and appropriate accounting treatment.
• Support cycle counts and physical inventory processes, including investigation and resolution of count variances.
• Implement and improve inventory control procedures to reduce discrepancies and strengthen data integrity.

Inventory Reserves

• Analyze and maintain reserves for excess, slow-moving, obsolete, and potentially impaired inventory.
• Prepare inventory reserve calculations in accordance with established accounting policies and GAAP requirements.
• Partner with Operations, Supply Chain, Purchasing, and Accounting to evaluate inventory usage, demand, age, and disposition.
• Maintain appropriate documentation supporting inventory reserve assumptions, adjustments, and financial reporting.

Costing Data and Master Data

• Maintain and validate inventory and costing master data within the ERP system.
• Review and update SKU costs and related costing attributes.
• Support costing implications associated with Bill of Material (BOM) changes and manufacturing routing changes.
• Review unit-of-measure conversions and investigate discrepancies that may affect inventory quantities or valuation.
• Ensure appropriate capitalization and allocation of freight, duty, and other applicable landed-cost components.
• Research ERP or transactional discrepancies affecting inventory valuation, standard cost, or financial reporting and coordinate corrective action as needed.

Month-End and Year-End Close

• Prepare and review inventory-related journal entries, accruals, reconciliations, and supporting schedules.
• Calculate and record inventory reserves as part of the monthly close process.
• Perform monthly PPV and manufacturing variance analysis and prepare related reporting.
• Review inventory balances and costing activity for unusual trends, transactions, or discrepancies.
• Support month-end, quarter-end, and year-end financial close requirements related to inventory and manufacturing costs.

Operational and Cross-Functional Support

• Partner with Purchasing, Operations, Supply Chain, Production, and Accounting to identify and resolve inventory and costing issues.
• Collaborate with production and procurement teams to monitor inventory transactions and support supply chain and manufacturing efficiency.
• Provide financial and costing insight to support operational decision-making, inventory management, and cost-control initiatives.
• Assist business partners in understanding the financial impact of inventory movements, material costs, manufacturing variances, and process changes.
• Participate in continuous improvement initiatives related to inventory accuracy, cost accounting, ERP processes, and financial controls.

Audit and Compliance Support

• Support internal and external audits by preparing inventory reconciliations, costing schedules, reserve documentation, transaction support, and other requested materials.
• Ensure inventory and cost accounting activities comply with GAAP, company policies, internal controls, and established accounting procedures.
• Maintain organized and complete documentation supporting inventory valuation, cost calculations, reconciliations, and accounting adjustments.

Minimum Qualifications

• Bachelor’s degree in Accounting, Finance, or a related field.
• At least 3 years of experience in inventory accounting, cost accounting, or a related accounting function within a manufacturing environment.
• Strong knowledge of Generally Accepted Accounting Principles (GAAP) related to inventory valuation and cost accounting.
• Demonstrated understanding of standard costing, manufacturing variances, inventory reconciliations, and month-end close processes.
• Proficiency in accounting software, ERP systems, and Microsoft Excel for data analysis and reporting.
• Excellent attention to detail, analytical ability, and problem-solving skills.
• Ability to investigate accounting and operational discrepancies and communicate findings effectively.

Preferred Qualifications

• Experience with ERP systems such as SAP, Oracle, Microsoft Dynamics, or comparable manufacturing ERP platforms.
• Certification such as Certified Management Accountant (CMA) or Certified Public Accountant (CPA).
• Experience supporting standard cost rolls and maintaining inventory and costing master data.
• Familiarity with Lean manufacturing principles and inventory management best practices.
• Advanced Excel skills, including pivot tables, lookups, macros, and data visualization.
• Experience working with Bills of Material (BOMs), routings, units of measure, freight, duty, and other manufacturing cost components.
• Strong communication and collaboration skills with the ability to work effectively across Finance, Operations, Purchasing, and Supply Chain.