scope:

Introduction

Stocktaking refers to the activity of counting stock which is necessary to establish the inventory list. There are different types of stocktaking (physical inventory or book inventory) as well as various methods of carrying out stock count. The most common methods are the end-of-period inventory (the count is carried out for the closing date) and the permanent inventory (registration of incoming and outgoing goods in warehouse files and inventory inspection by a oneoff count within the business year). Other stocktaking methods include the extended/broadened end-of-period inventory, the early or delayed end-of-period inventory and the sampling inventory.