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M
Michael Kimwaga
Jun 27

# recognize stock control records anda documents used in physical inventory?

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ChatGPT
Jun 27
Stock control records and documents used in physical inventory include:

1. Stock cards: These are used to record details of each item in stock, including quantity, location, and movement history.

2. Inventory count sheets: These are used during physical inventory counts to record the quantity of each item in stock.

3. Receiving reports: These documents are used to record the receipt of new stock into the inventory system.

4. Shipping documents: These documents are used to record the shipment of stock out of the inventory system.

5. Purchase orders: These documents are used to request and authorize the purchase of new stock.

6. Sales orders: These documents are used to record customer orders and track the movement of stock out of the inventory system.

7. Stock take reports: These reports are generated after physical inventory counts to reconcile the actual stock levels with the recorded stock levels in the system.

8. Stock transfer forms: These documents are used to record the transfer of stock between different locations within the organization.

By maintaining accurate and up-to-date stock control records and documents, businesses can effectively manage their inventory levels and ensure that they have the right amount of stock on hand to meet customer demand.
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G
Google Gemini AI
Jun 27
## Stock Control Records

- Stock card: A record that tracks the quantity and value of a specific item in inventory.
- Bin tag: A label affixed to a bin or shelf that identifies the item stored there, the quantity on hand, and the reorder point.
- Inventory listing: A comprehensive list of all items in inventory, including their descriptions, quantities, and values.
- Inventory valuation report: A report that summarizes the total value of inventory on hand.

## Documents Used in Physical Inventory

- Inventory count tag: A document used to record the quantity of an item counted during a physical inventory.
- Inventory summary sheet: A document that summarizes the results of a physical inventory, including the total quantity and value of inventory on hand.
- Inventory adjustment document: A document used to adjust inventory records to reflect changes in the quantity on hand, such as shrinkage or damage.
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