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1. In a retail business, inventory has multiple meanings. Inventory means ail the goods that a company has on hand or available to it in a warehouse. Inventory also means the process by which the business   the number of goods. An accurate account of the inventory available is  . The amount of stock is a   because it is already owned by the business.
Taking an inventory is a physical count of the inventory holdings. Today, almost every business keeps a   inventory count by having its sales records tied by computer to its inventory. When a customer makes a purchase, the computer system tied to the register   the purchase from the Inventory records. If a customer makes a return or an exchange, the inventory numbers will be   by the computer  . That′s often why   the barcode is so important in stores. If merchandise is broken or damaged in the stockroom or on the sales floor, the manager will ask the sales and stock help to change the stock holdings to   the loss.
As good as the computer records may be, they are just an estimate. At least once a year, most businesses do an actual physical count of the inventory. This process can be   but it is necessary as there are always   between what the computer says you own and what your physical count says. Often stores close for a day, or at least close early, so that staff can perform the inventory without  .