Inventory Issues

The Three Most Important Accounting Inventory Issues

Does your pharmacy have — and use — a perpetual inventory system? Ollin Sykes provides an overview of what pharmacies should do weekly to properly manage inventory, including downloading your primary acquisition cost information and how to monitor acquisition costs in the system from secondary or generic houses. Secondly, he talks about running physical cycle counts, and third, the importance of running clean inventory reports at the closing of business for proper syncing of inventory with payables.

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