Tell me about a time when inventory value is misstated because quantity or cost is incorrect. What did you do?

I first confirmed the facts and contained the immediate impact. Next, I reviewed the stock ledger, count result, valuation report, and adjustment approval and coordinated the action to reconcile book stock, physical count, valuation, in-transit, and obsolete items. After verifying the result, I summarized the root cause, preventive control, owner, and follow-up plan so the issue would not recur.