Specialty Tanks

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Inventory

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13.   It is important that the volume you enter onto the Inventory Control log is accurate. Rounding up or down to the nearest value shown on the Conversion chart is unacceptable and WILL create inventory errors that may create false losses or gains. In order to avoid this problem the following procedure should be performed each time you calculate the volume based on the level readings you took from the tank.

a.           Read the conversion chart for the exact readings that are above and below the actual stick reading indicated on your inventory control log sheet. If the stick reads 33-1/4 inches use the readings on the conversion chart for 33 and 34 inches.

i.                34 inches = 345 gallons

ii.             33 inches = 337 gallons

iii.          Difference = 8 gallons

b.           Multiply the difference by the fraction of an inch in the actual stick reading

i.                8 gallons x = 2 gallons

c.           Add the 2 gallons to the lower value (337 gallons) to give you the actual gallons.

i.                337 + 2 = 339 gallons

d.           Enter this value onto your inventory control log sheet for the volume of product that is equal to the 33-1/4 inch level reading.

e.           In order to determine your losses or gains for each day follow the procedure described below in Calculating Losses and Gains.