The physical count is used to adjust the Inventory account balance to the actual inventory available, to determine if there has been any theft, loss, damage or errors in inventory.
The physical count is used to compare the Inventory account balance to the actual inventory available in order to determine if there has been any inventory theft, loss, damage, or errors. A physical inventory count is the process of manually counting the stock you keep in-store, from the sales floor to the back store, comparing the inventory levels you count to the inventory levels recorded in your POS system, and reconciling any discrepancies. Physical inventory employs a regular schedule to manually count and record items as well as keep track of the cost of what is purchased and sold.
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