The term fob'' denotes

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    • Reeves company is taking a physical inventory on march 31...

    Taking Physical Inventory: How to Take Count of Inventory

    You might think that taking a physical count of inventory is a tedious and time-consuming task.

    It certainly can be, but the benefits you get from taking it far outweigh the effort involved.

    Physical inventory counting is a cornerstone of inventory control and has a massive impact on a business’s ability to limit warehouse costs and increase profits.

    Here's how physical inventory works, the steps involved, why you need to take it regularly in your business, and how to calculate ending inventory.

    Physical Counts of Inventory

    Physical counts of inventory are a vital inventory management techniques and a major skill to assess when developing an inventory manager salary.

    These counts uncover discrepancies in inventory records and establish the sales trends of products. Using the inventory days formula will also be necessary.

    What Is Physical Inventory Count?

    A physical inventory count is a method of manually counting your inventory and comparing it against recorded numbers.

    This count is usually performed

      taking a physical count of inventory is not necessary when