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Supervision of Procedures - 14237_142
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Mid-Accounting Period Inventory
Second  Count The  second  count  must  be  recorded  on  the pink and blue copies only of the Inventory Count Sheets (NAVSUP 238s). The second count should be made by a team other than the team that made the first count. However, the second count should be  conducted  in  the  same  manner  and  with  the same  techniques  that  were  used  in  the  first  count. When the inventory of a space has been com- pleted,  the  responsible  custodian  and  the  members of  the  inventory  team  must  sign  the  inventory sheets.   At   this   point,   the   sheets   should   be returned  to  the  ship’s  store  officer. Reconciliation of the First and  Second  Counts The   ship’s   store   officer   (or   designated assistant)  must  now  reconcile  the  inventory  sheets for   the   first   and   second   count.   If   differences occur,  the  ship’s  store  officer  (or  designated assistant) must make a third count of the items. When  the  correct  amount  is  determined,  the  ship’s store officer should make the necessary changes to all copies of the inventory sheets from the first and second counts. To make the corrections, the ship’s store officer must draw a line through each error and write the correct figure. The ship’s store officer   or   assistant—whoever   made   the   third count—and the responsible custodian must both initial  each  correction. Security Upon  completion  of  the  inventory  (or  at  any other time when the inventory is not in progress), each space must be secured with a lock and with a  numbered  lead  or  car  seal.  The  seal  number must be recorded in a log and the number must be  verified  by  the  custodian  of  the  space. Inventory  Affidavit Upon  completion  of  the  inventory  and  after  all differences  have  been  reconciled,  corresponding inventory count sheets from the first and second counts  should  be  matched  and  stapled  together. Remember, a separate affidavit for each space in- ventoried  should  be  prepared  and  stapled  together with the corresponding inventory count sheet for that space. A copy of the affidavit format and the correct distribution of the inventory count sheets can  be  found  in  your  current  NAVSUP  P-487. Price Line Inventory Price  line  inventories  are  a  tool  the  ship’s  store officer can use to establish a correct money value for the balance of ship’s store stock on hand. To be effective, however, price line inventories must be  carefully  planned  and  supervised. Price  line  inventories  are  performed  at  various times  and  under  varying  circumstances.  For example,  the  ship’s  store  officer  may  conduct  a price line inventory on all ship’s stock, including standard  Navy  clothing  items,  just  to  acquire  a dollar value figure for all stock on hand. In this case, the price line inventory serves as a manage- ment tool for proper stock control and as a source of  information  to  be  used  in  the  required  finan- cial  reports  for  the  ship’s  store. Whenever a resale outlet operator is relieved, the  ship’s  store  officer  will  usually  insist  that  a price  line  inventory  be  made  of  the  stock  under the  operator’s  custody.  On  ships  with  separate responsibility,  the  price  line  inventory  must  be taken  upon  relief  of  the  ship’s  store  operator  or bulk  storeroom  custodian.  Generally,  price  line inventories  are  taken  monthly  in  self-service  stores and  in  resale  outlets  that  are  operated  by  more than  one  person.  In  cases  of  break-ins  or  theft, price  line  inventories  are  usually  sufficient  for the   evaluation   of   the   affected   ship’s   store spaces.  At  any  other  time,  as  directed  by  the type   commander   (TYCOM),   the   commanding officer (CO), the supply officer, or the ship’s store officer, an inventory of ship’s store stock may be required. Verification  of  Stock  Records A  verification  of  physical  counts  with  actual bulk  storeroom  card  balances  on  the  NAVSUP 464s  must  be  made.  Usually,  the  ship’s  store officer (or a designated qualified person) and the recordskeeper  will  perform  this  verification.  Since the same item may be located in more than one ship’s  store  space,  individual  postings  to  the  NAV- SUP 464 will be required. The responsible custo- dian  (whose  space  is  being  inventoried)  should  not be designated to perform this verification. When the retail store and bulk storeroom are operated by  the  same  person,  only  physical  counts  of  the cost  of  operations  items  should  be  verified  with bulk  storeroom  card  balances.  When  there  are differences,  the  items  should  be  investigated.  If errors  are  found  in  the  inventory,  the  inventory sheets must be collected and the appropriate cor- rections  must  be  made.  All  corrections  must  be initialed  by  the  persons  who  took  part  in  the inventory.  These  same  people  should  return  the inventory  sheets.  The  same  attention  that  is  given to investigating retail differences should be given 7-5

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