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Define an inventory and give its contents.

      

Define an inventory and give its contents.

  

Answers


Martin
-An inventory is a detailed list of items.It can be prepared for the purpose of:insurance or to
show clear records of the property a person or a company has e.g a school has
buildings,furniture,stationery,office equipment library books,kitchen provisions and sporting
equipment.

-An inventory contains details about:

-quantity of the item

-description of the item

-date of purchase or delivery

-date of issue

-signature of the person removing it from the store

-balance of each item after the issue

Importance of an inventory

-it is used to:
- Keep a check on what you have

- Provide basic information for quick auditing in a big institution

- Keep a record of what needs to be replaced or repaired

- Eliminate pilfering (stealing)

- Ease the job of management

- Give information on items that need constant replacement
marto answered the question on April 15, 2019 at 05:35


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