Managerial Accounting (15th Edition)

Published by McGraw-Hill Education
ISBN 10: 007802563X
ISBN 13: 978-0-07802-563-1

Chapter 1 - Appendix 1A: Corporate Governance - Questions - Page 26: 1A-8

Answer

Companies usually count their inventories on hand once a year because inventory accounting is a necessary component for an accurate balance sheet. Moreover only an actual count can reveal what you have on hand and make sure it matches what's in the company's system.

Work Step by Step

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