What is the procedure for resolving discrepancies in inventory reports?

The process for resolving discrepancies in inventory reports involves a systematic approach aimed at ensuring accurate inventory management. The correct procedure is to conduct a recount of the inventory to verify the actual quantities on hand. Following the recount, it is crucial to review past transactions related to the inventory items in question. This helps identify any possible errors that may have led to the discrepancies reported. Investigating any errors is key to understanding the root cause, whether they stem from miscounts, data entry mistakes, or theft, and allows for corrective actions to be taken to prevent future occurrences.

The other approaches do not adequately address the need for accuracy and accountability in inventory management. Waiting for the next inventory cycle may lead to unresolved issues that could compound over time, while simply documenting discrepancies without taking action does not resolve the problem. Adjusting inventory counts without proper verification poses a risk of further inaccuracies, which can lead to financial discrepancies and mismanagement of stock levels. Overall, the thorough approach outlined in the correct answer is essential for maintaining effective inventory controls and ensuring the reliability of inventory records.