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How to profile inventory?
An inventory profile is used to track and report the movement of items, and the accounting of on-hand inventory quantities, based on the kind of activity that the company engages in. The general ledger transactions that correspond to inventory movements depend on the inventory profiles.
Profiling inventory is about finding out how much inventory you need for a particular event or season. It's important to not only think about quantity but also about what kind of inventory you want to sell. For example, if you are looking for Christmas or holiday inventory, then you would want to look for products that are seasonal, like clothing, decorations, candles, and other winter related items. Or, if you were looking for spring inventory, then you would want to look for items that have good resale value, like furniture, plants, and outdoor decor.