Mo. Code Regs. tit. 2 § 60-4.100

Current through Register Vol. 49, No. 21, November 1, 2024.

Section 2 CSR 60-4.100 - Daily Position Record

PURPOSE: This rule clarifies the requirements of a perpetual inventory record.

(1) A perpetual inventory record shall be called a daily position record for the purpose of this rule. This record must reflect grain movements in and out of the warehouse and total amount of grain stocks in the warehouse at the close of each business day. A business day shall be defined as any twenty-four (24)-hour period, during which time business is conducted. All entries to the daily position record shall be supported by source documents.

(2) Adjustments for shrinkage due to operational and moisture losses shall be made to the daily position record at least once per month, based on a shrinkage policy established by the warehouseman. The policy shall be formulated so that calculated losses are representative of actual shrinkage incurred.

(3) Upward or downward adjustments of the daily position record to measured inventory may be made only upon departmental approval or when ordered by departmental auditors.

(4) Upward or downward adjustments of the daily position record to actual weigh-up inventory may be made at any time. However, the warehouseman shall furnish upon request of the department copies of scale tickets used in the weigh-up.

2 CSR 60-4.100

AUTHORITY: section 411.070, RSMo 1986.* This rule was previously filed as 2 CSR 404.100. Original rule filed May 5, 1972, effective May 15, 1972. Amended: Filed Feb. 13, 1980, effective May 11, 1980. Rescinded and readopted: Filed Feb. 2, 1990, effective May 31, 1990.

*Original authority 1941, amended 1955, 1965, 1977, 1980, 1986.