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Annual inventory count means a complete physical count of all items in stock that is conducted once a year. This process is used to: Verify the accuracy of inventory records. Identify any discrepancies, such as missing, damaged, or extra items. Support financial reporting and ensure the correct valuation of stock. Detect issues like theft, spoilage, or mismanagement. It’s often done at the end of the financial year and may involve pausing business operations temporarily to ensure a thorough coun
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