COST ITEM STOCK RECORD

The closeout of the Stock Record, NAVSUP Form 464, for cost items is shown for separate and combined responsibility in figure 6-8. The closeout for cost items is fairly simple because they are only inventoried in the bulk storeroom. This inventory is entered on the stock record and the figure must agree with the last entry reported in the Balance in Bulkroom column for separate responsibility and the Total Balance column for combined responsibility. If these figures do not match, the differences must be investigated and resolved.

REVIEWS

Once the office recordskeeper closes out the stock records, the ship's store officer is required to review them to make sure they are closed out properly. This review procedure is shown in figure 6-9. The ship's store officer adds the

Figure 6-9.-Review of the Stock Record, NAVSUP Form 464. 6-17

inventory of 552 brought forward from the last accounting period to the total of all entries in the Receipt column, 288, to get the total of 840. This figure must equal the total entries of expenditures, including the sales figure of 620 plus the closing inventory of 220 for the accounting period. These figures total 840. If the totals do not match, the ship's store officer must recheck the NAVSUP Form 464 to determine where the discrepancy occurred. The ROM system automatically closes out the NAVSUP Form 464 after end of period closeouts. Any differences are examined by the ship's store officer.

DISCREPANCY LIST

A discrepancy list showing gains or losses both in quantity and retail dollar value is prepared for any differences in the bulk storeroom. Before the discrepancies are included on this list, the ship's store officer will investigate them thoroughly. This is done by reinventorying the item or items having a discrepancy, searching for posting errors such as documents that were not posted or quantities that were entered incorrectly, or by checking to make sure the math is correct on the stock record in manual procedures. If an inventory difference cannot be resolved after the inventory has been examined as required by the NAVSUP P-487, the ship's store officer includes the item on the list. The discrepancy list is locally prepared. See figure 6-10 for an example of a bulk storeroom discrepancy list. The ship's store officer indicates on the discrepancy list what corrective action was taken. If the operation of the bulk storeroom is considered satisfactory, it will be reopened. The ROM system automatically generates this discrepancy list for you after all inventory data are entered. The total dollar value at retail of the differences shown on the discrepancy list is included on the back of the ship's store Balance Sheet and Profit and Loss Statement, NAV-COMPT Form 153.

Figure 6-10.-Bulk storeroom discrepancy list (sample). 6-18

CLOSEOUT OF THE SHIP'S STORE AFLOAT FINANCIAL CONTROL RECORD

Previously in this manual we discussed how to maintain the Ship's Store Afloat Financial Control Record, NAVSUP Form 235, located in the Financial Control Record File, SSA-1. You learned that the NAVSUP Form 235 is used as a management tool to accurately determine if a ship's store activity is operating within monetary limits. In this section we discuss the procedure for balancing and closing out the NAVSUP Form 235, which is designed to make sure each activity is within the prescribed monetary limits.

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