inventory audit

inventory audit

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Posted by: nitya (Business) 21 June 2019

stock audit is a statutory process which every business institution needs to perform at least once in
a financial year. As far the stock audit process is concerned, the process mainly involves the counting
of physical stock presenting the specified premises and verifying the same with computed stock maintained
by the company. The reason and purpose behind executing this is to correct the discrepancies present in the
book stock when compared to physical stock by passing necessary adjustment entries.

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