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Inventory Auditing Basics

Verify stock accuracy

Performing inventory audits involves cycle counts or full counts, reconciling discrepancies, checking controls, and adjusting processes to reduce shrink and improve accuracy.

Plan Counts

Schedule cycle/full counts; segregate duties.

Reconcile

Compare to records; investigate variances; adjust books.

Improve Controls

Tighten receiving, storage, and access to prevent shrink.

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