What physical counting method is utilized to verify inventory levels and audit accuracy?

The cycle count method is a physical inventory counting technique that allows organizations to regularly verify inventory levels and audit accuracy. This approach involves counting a portion of the inventory on a scheduled basis, rather than conducting a complete inventory count all at once.

By systematically counting different items or sections of inventory on a rotating schedule, businesses can ensure that inventory records remain accurate throughout the year. This method helps to identify discrepancies, such as theft or clerical errors, in a timely manner and reduces the disruption typically associated with a full inventory count.

In contrast, consultation refers to seeking advice or guidance, which does not pertain directly to physical counting. Pareto's Rule focuses on identifying the most influential factors in a dataset, which isn't a counting method. ABC analysis categorizes inventory into three classes based on importance and turnover rate, but again, this is more of an inventory management strategy rather than a physical counting technique. Thus, the cycle count stands out as the correct option for verifying inventory levels and auditing accuracy.