Manuel stores his imported merchandise in two integrated bonded warehouses. He is aware that he must maintain a centralized inventory control system for transfer of goods between warehouses, as required by regulations. Which ONE of the following statements is INCORRECT with respect to the inventory control requirements?
A) Manuel must provide on demand the proper on-hand balance for each open warehouse entry and the actual quantity in each warehouse facility.
B) He must file the withdrawal at the original warehouse location at which the merchandise was entered.
C) Manuel must file documentation for all intracompany movements in the consolidated permit file folder within 7 calendar days.
D) He must maintain records for all of the intracompany movements.
E) He must provide on demand the on-hand balance of each inventory item in each warehouse facility and each storage location within each warehouse.
[bg_collapse view=”button-green” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer and Citation” collapse_text=”Hide Answer and Citation” ]
The Answer is: C
Citation: 19 CFR 144.34 (c)(4)(v)
[/bg_collapse]