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Hi Tutor,
May I ask if these procedures are applicable to conduct DURING inventory counts? I encountered the problem “Lily” in a BPP revision kit. These are not the same as those provided in the kit.
– Obtain management instructions and observe is these are properly carried out during the conduct of inventory count.
– Select sample of inventory count sheets to ensure that only product description and codes ang printed.
– Observe if each team member conducts individual counts or counts each item together to ensure that checking of counts is done.
– Conduct sequence checks of inventory count sheets to ensure completeness and if any missing sheets must be discussed with management for the reason and any action taken.
– Inspect counted areas if these are flagged as counted to ensure no double-counting is done or missed any inventory item to ensure completeness.
– Inspect damaged goods if these are located separately from non-damaged ones to ensure proper valuation.1 Usually instructions are obtained prior to count and studied in case they are inadequate. If ok, during count ensure they are followed.
2 Ok
3 Ok
4 Would be done immediately after count. Only then should all sheets be back.
5 Ok
6 Ok
The question is a bit tricky as it is not quite clear what’s meant by ‘during’. Apart from 1 where instructions must be scrutinised in advance all your points are fine.
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