Inventory

Used by the Property and/or Supply Custodian to support the purchase of property, supplies and materials, etc.

Used to record all receipts and issues of supplies and the balance in quantity at any time.

It shall be maintained by the Supply and Property Unit.

An ocular verification of the existence and condition of the property under audit

The “immediate delivery”, “as soon as possible”, other words and phrases having similar imports or without stating a particular period shall be understood to mean ______ calendar days after receipt by the supplier or contractor of PO or contract

The procuring entity simply requests for the submission of price quotations for readily available off-the-shelf goods or ordinary/regular equipment to be procured directly from suppliers of known qualifications

Refers to a method of procurement which is open to participation by any interested party

Agencies shall procure common-use supplies and materials from the _____________________ of the DBM, in accordance with LOI No. 755

_____________________ shall be issued to end-user of Semi-Expendable Property to establish accountability.

________________ used for costing inventories. This method calls for the recalculation of the average cost of all items in stock after every purchase.

Tangible items below the capitalization threshold of P15,000.