When is a physical inventory usually taken? when the company has its greatest amount of inventory and at the end of the company's fiscal year. when the company has its greatest amount of inventory. at the end of the company's fiscal year. when goods are not being sold or received?

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Business

Barrett

6 July, 09:35

When is a physical inventory usually taken? when the company has its greatest amount of inventory and at the end of the company's fiscal year. when the company has its greatest amount of inventory. at the end of the company's fiscal year. when goods are not being sold or received?

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Violet Griffin · Answer 1

Actually the physical inventory was taken when goods or product are not being sold or received and at the end of the company's fiscal year. A fiscal year also known as financial year, or sometimes budget year is the period used by governments for accounting and budget purposes, which vary between countries. It is also used for financial reporting by business and other organizations.