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Accounting Best Practices, Fifth Edition by Steven M. Bragg Englewood, Colorado

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Inventory Accuracy

16–15Audit all inventory transactions
16–16Compare recorded inventory activity to on-hand inventories
16–17Eliminate the physical count process
16–18Cycle count based on usage frequency
16–19Lock down the warehouse area
16–20Move inventory to floor stock
16–21Segregate customer-owned inventory
16–22Streamline the physical count process
16–23Track inventory accuracy
16–24Train the warehouse and accounting staffs in inventory procedures
16–25Verify that all receipts are entered in the computer at once

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