Anonymous asked: inventory question The purpose of the inventory is to adjust the organizations financial statements to accurately reflect what is actually available for sale as far as merchandise in the store. They cannot simply go by what was ordered in because there are situations such as broken or damaged products, theft, items sent that were not ordered,... So they just need the total dollar amount. Although, most retailers use an independent firm for this - issue of accuracy. I really enjoy your blog
We don’t go by what was ordered in, or what was sold - or anything item by item… it’s just one lump sum of the entire store.
Thanks!!