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What Is Physical Inventory? |
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Answer» Physical inventory is a process in which all the transactions related to the MOVEMENT of GOODS are stopped and the company physically COUNTS inventory. It is required in financial ACCOUNTING rules or for regulating taxes by placing an accurate value on the inventory. Physical inventory is a process in which all the transactions related to the movement of goods are stopped and the company physically counts inventory. It is required in financial accounting rules or for regulating taxes by placing an accurate value on the inventory. |
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