An inventory list may be used to record home inventory or business stock for different purposes. Main advantage of using an inventory list is to stay updated with what we have and how much. Further an updated inventory list can play an important role in case of any loss to inventory for insurance claims. It may also be used as an important list while shifting inventory from one place to another. An inventory list will contain names of all items along with their buying date, brand name, buying price, quantity etc. Copies of inventory list should be saved at different places to ensure availability of this list in time of need. This list will be prepared like a business documents in proper format. This list must be updated after every six months or a year.
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