In some embodiments, apparatuses and methods are provided herein useful to monitoring and reconciling inventory. In some embodiments, there is provided a system including: an inventory location for one type of merchandise item intended for the inventory location; a first sensor configured to collect data regarding the presence of the merchandise item at the inventory location; a second sensor configured to collect identification data of the merchandise item at the inventory location; a memory configured to store the identification data; a database including identification information corresponding to the merchandise item intended for the inventory location; a control circuit configured to: compare the identification data collected by the second sensor with the identification information from the database corresponding to the merchandise item; verify that the identification data from the second sensor corresponds to the identification information from the database; and calculate a quantity of inventory at the inventory location.