inventory end

inventory end refers to the final count of inventory at the end of a specific accounting period. This inventory count is critical for businesses to determine their cost of goods sold (COGS), profits, and losses. The inventory end process involves physically counting the stock on hand and adjusting for any discrepancies, such as shrinkage, damaged goods, or missing items. The inventory end figure is used to calculate financial statements, and it’s crucial for businesses to keep accurate records for tax and reporting purposes.