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universalcpareview.com
What is the adjusting entry for a physical inventory adjustment? - Universal CPA Review
A company will typically perform a physical inventory count on the last day of the fiscal year. The entire warehouse will be counted, and the company will aggregate the number of units by SKU to calculate total inventory on-hand. This will be captured in a document or file called the ‘inventory count sheet’. This is maintained by the ...
Dec 6, 2021
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