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SPOT INVENTORIES Spot inventories are not required on ships with combined responsibility, but they are taken on ships operating under separate responsibility. The purpose of the spot inventory is to check on the balance of selected stock in the bulk storeroom and compare it to the balance shown on the Stock Record, NAVSUP Form 464, and resolve any differences. Procedures The ship's store officer must conduct spot inventories of ship's store stock at unannounced times during the course of a fiscal year. A minimum of 5 percent of the stock in the bulk storeroom should be inventoried per month. The results of these inventories are compared against the NAVSUP Form 464 for the purpose of maintaining inventory accuracy in the bulk storeroom at 100 percent. Spot inventories may be taken on a locally prepared form, but when possible, they should be taken after breakouts or issues. The bulk storeroom custodian must indicate the balance on hand on each Intra-Store Transfer Data, NAVSUP Form 973, after making the breakout or issue. This makes it easy for the recordskeeper because as he or she is posting the quantity broken out to the NAVSUP Form 464, the quantity balance left can be checked. Spot inventories should also be taken when an item shows a negative on-hand stock balance after posting a breakout to the NAVSUP Form 464 and for each bulk storeroom issue refusal. Accounting for Adjustments When quantity differences occur between spot inventories and the balance shown on the stock records, the NAVSUP Form 464 is adjusted accordingly. Gains or losses do not affect the Total Balance column of the NAVSUP Form 464, but the Balance in Bulkroom column is adjusted as follows: Gains-when a gain occurs by spot inventory, it is posted to the Received column and the Balance in Bulkroom column is increased. Losses-when a loss occurs by spot inventory, it is posted to the Expended column and the Balance in Bulkroom column is decreased. Figure 6-5 illustrates both a loss and a gain by spot inventory. A list of all gains and losses by spot inventory both in quantity and retail value is prepared. The list indicates corrective action taken and is filed with the Ship's Store Afloat Financial Control Record, NAVSUP Form 235. When the sales outlet and bulk storeroom are operated by the same person, the Balance in Bulkroom column of the NAVSUP Form 464 is not used. A gain or loss by spot inventory is entered only to the Received and Expended columns, whichever applies. ROM users enter spot inventories in the ROM inventory function. ROM automatically adjusts stock records for all spot inventory adjustments entered. PRICE LINE INVENTORY The purpose of a price line inventory is to establish the correct money value of stock on hand in a retail store or snack bar. Like the physical inventory, the ship's store officer is responsible and must review procedures for conducting price line inventories with personnel involved before the actual counting begins. Price line inventories are conducted using the two-count system discussed previously with each inventory team using separate inventory sheets. Inventories are recorded in ink on a locally prepared price line inventory count sheet as shown
Figure 6-5.-Gains and losses by spot inventory. in figure 6-6. Retail prices are used for retail items and cost prices are used for cost items. Inventory Pattern It is essential to establish and use a specific inventory pattern during a price line inventory. If the inventory pattern is not used, it will be very difficult to compare the first and second counts after counting is complete. Just as in the physical inventory, the area to be inventoried should be divided into sections. The size of each section and number of line items must be limited so the two counts can be easily compared. The sections should be clearly defined. Do not cover too large an area, and do not include more than 60 to 100 line items. Each inventory team must follow an identical pattern. For example, each count team must begin on the top shelf, work from left to right and inventory along the shelf from one end to the other, drop to the second shelf, and so on. Counting and Recording Record the count for price line inventories on the price line inventory sheet by writing the quantity and the correct price. A separate price line inventory count sheet is used for each section to be counted. If two or more consecutive line items in the inventory count pattern have the same price, they must be counted and listed separately on the price line inventory sheet. After counting and recording are complete, the ship's store officer must compare the first two counts and resolve any discrepancies. Once differences are resolved, the first and second count sheets must be extended as discussed earlier. ROM users enter price line inventory data in the ROM price line inventory function. The ROM automatically extends and totals the price line inventory data entered. This information is now available on CD in Adobe PDF Printable Format |
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