Asked by
Brendan Cordero
on Nov 18, 2024Verified
A physical inventory should be taken at the end of every month.
Physical Inventory
The process of counting and verifying the actual quantities of physical merchandise or assets present in a store or warehouse.
- Understand the significance of conducting physical inventories and their effect on financial precision.
Verified Answer
NM
Learning Objectives
- Understand the significance of conducting physical inventories and their effect on financial precision.