Final answer:
The inventory control function is a business process involved in managing the quantities of raw materials and finished goods. Accurate inventory levels are crucial for meeting business expectations and adjusting to sales performance.
Step-by-step explanation:
The inventory control function is important in managing both raw materials and finished goods inventory subsidiary ledgers. Inventories represent the goods that a business has produced but not yet sold, which are still stored in warehouses or on shelves. Proper inventory control ensures that the amount of inventory aligns with the business's sales expectations, with inventories typically declining when business is better than expected and increasing when it is worse than expected.