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Identify and describe the key steps in inventory management

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Problem 1: Assume you maintain a perpetual inventory system. Identify and describe the key steps in the inventory management process - consider recording & recordkeeping through to physical security and verification of its existence. Include any necessary related internal controls needed to manage the purchase, despatch, receipt or storage of inventory in your business. Ensure one of the steps you identify involves a reconciliation procedure or process

Reference no: EM132757934

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