Complete Inventory and Special Inventory Page.3 Flashcards
Unit 5. Physical Inventory
Who is responsible for the safekeeping and management of inventories and must use the Physical Inventory Control Program (PICP) as guidance for any materiel under their control or supervision?
Logistics Readiness Squadron (LRS) CC/Accountable Property Officer (APO)
Which inventory type are conducted using the close warehouse method for inventories?
Complete Inventory Count
The Physical Inventory Control Section assigns and controls what freeze code?
Freeze Code “C”
How many freeze codes may be assigned to an item record?
One (1)
This is a method whereby the warehouse, or portion thereof, housing the property to be inventoried is closed to all receipt and issue transactions except emergency issue transactions, and urgency of nee “A” requests, while the physical count is being made
Closed Warehouse Inventory
Emergency issues are defined as those priority designator 01-08 requests such as what?
This is high priority orders, aerospace ground equipment, out of commission for the part, work stoppage, etc.
Mission Impaired Capability Awaiting Parts (MICAP)
True of False
A closed warehouse inventory means the entire warehouse is frozen.
False.
A closed warehouse inventory DOES NOT mean the entire warehouse is frozen.
Which inventory type reconciles out-of-balance conditions discovered other than complete inventory counts?
Special Inventory Counts
The purpose of this is to assign freeze code “I” to the item and detail records when an out-of-balance condition exists
Special Inventory Interrogation Input (1GP)
Which personnel assign this code to initiate a special inventory?
Physical Inventory Control Section and Warehouse personnel
This is responsible for maintaining the suspense notices file
Physical Inventory Control Section
Who will recount and verify the quantity and re-input?
Physical Inventory Control personnel
Complete inventory counts are conducted using which method of inventory?
Closed Warehouse method
