What is the difference between stock Inventory & Physical Inventory?

Stock Inventory means total number of Stock available whatever we purchase. Physical inventory means at the stock available at the time of Audit. Verified by auditor.

Actually Stock and Inventory have two different meaning, Stock means finished goods which are ready for sale, whereas Inventory includes raw material, in-process & finished goods. Stock needs to be checked and accounted daily whereas Inventory will be verified once in a year. Coming to Physical Inventory, it is the physical goods(raw material+Inprocess+finished+rejections+rework) available against the total goods procured against timeline.