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DocuSign Envelope ID: D09A72357D704FB58DC700079B12F24BMEMORANDUM NO. 202108 April 20, 2021, TO THE HEADS OF ALL STATE AGENCIESAttention:Agency Heads, Chief Fiscal Officers and Business ManagersSubject:Annual
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How to fill out annual inventory report of

01
Start by gathering all the necessary information and documents related to your inventory, including purchase records, sales records, and any other relevant records.
02
Assess the physical inventory by conducting a thorough physical count of all the items in your inventory. Make sure to count each item accurately and record the count.
03
Organize the inventory data by categorizing the items based on their types, sizes, or any other relevant criteria.
04
Calculate the total value of your inventory by multiplying the quantity of each item by its unit price. Sum up the values of all the items to get the overall value of your inventory.
05
Prepare the inventory report by documenting all the necessary details, such as the item name, quantity, unit price, and total value. You can use a spreadsheet or any inventory management software for this purpose.
06
Review the inventory report for accuracy and completeness. Make sure all the information is correct and matches the actual inventory count.
07
Submit the annual inventory report to the relevant authority or organization as per the guidelines or requirements.
08
Keep a copy of the inventory report for your own records and future reference.

Who needs annual inventory report of?

01
Businesses and organizations of all sizes and types need to prepare an annual inventory report.
02
This report is essential for tracking and managing inventory, assessing the value of inventory for financial reporting, making informed purchasing decisions, and complying with regulatory requirements.
03
Therefore, any business or organization that deals with inventory, such as retail stores, manufacturers, wholesalers, and even service-based businesses that maintain stock of supplies, may need to prepare an annual inventory report.
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The annual inventory report provides a summary of all inventory items held by a company at the end of the fiscal year.
All companies that hold inventory are required to file an annual inventory report.
The annual inventory report can be filled out by listing all inventory items along with their quantities and values.
The purpose of the annual inventory report is to provide an accurate snapshot of a company's inventory holdings for financial reporting and planning purposes.
The annual inventory report must include details of all inventory items, including descriptions, quantities, values, and any relevant notes.
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