Below explained what is the continuous inventory record and the method of continuous count:
|What are continuous inventory records means:
Where a business holds considerable quantities of varied inventory, there is a need to maintain continuous inventory records which is a “card” kept for every item of inventory, showing receipts and issues from the stores and a running total.
Continuous count means:
To ensure the record cards are correct, store personnel will then need to at least count a few inventory items every day. This is so-called “continuous count” where it is spread out over the year rather than completed in one count at a designated time.
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