Depending on the circumstances, the Judge may or may not grant that request. You should ask the IRS attorney if he or she will agree with the request for continuance and you should let the Tax Court know if there is any objection. The Judge may or may not grant your request for continuance.
If differences exist, then adjustments should be made to get the accounting counts to match the warehouse counts. A full physical inventory is usually performed when all inventory movements are stopped to ensure better accuracy. Cycle counts represent a procedure to validate inventory quantity in the accounting system through regular partial counts.
ABC analysis divides an inventory into three categories- A items with very tight control and accurate records, B items with less tightly controlled and good records, and C items with the simplest controls possible and minimal records.hus, the inventory is grouped into three categories (A, B, and C) in order of their estimated importance. 'A' items are very important for an organization. Because of the high value of these 'A' items, frequent value analysis is required.