Right. Have an inventory table, showing the quantity and location of the items at a given point in time.
Then, sum the inventory table with the sum of all transactions (after the time snapshot) which reference that item/location
Whenever you sell or otherwise move an item out of inventory you add a transaction record, containing the timestamp, item number, the location, and a negative quantity. When receiving an item into inventory, the transaction record contains a positive quantity and timestamp. To move an item from one store to another, you would need two transactions: one removing the item from the first store's inventory, and a second, adding the item to the second store's inventory.
Whenever you perform a physical count of inventory, you would add an inventory adjustment transaction (so as to make the database inventory match the actual count,) then reset the inventory record with the current timestamp.