Taking a physical inventory count involves all of the following EXCEPT
A) counting the units on hand.
B) applying unit costs to the total inventory on hand for each item of inventory.
C) evaluating whether inventory needs to be written off as obsolete.
D) totalling the cost of each item of inventory to determine the total cost of goods on hand.

Question

Quizplus · Accepted Answer

Evaluating whether inventory needs to be written off as obsolete is not typically part of the physical inventory count process. The physical count focuses on counting and valuing the inventory on hand.

Taking a Physical Inventory Count Involves All of the Following