No license shall be issued under this division by the license administrator until
there is filed an inventory containing a complete and accurate list of the stock of
goods and merchandise to be sold at auction for which the license is required, together
with the wholesale price of the goods and merchandise. The inventory shall be made
a part of the application for the license and its accuracy shall be sworn to. It shall
be unlawful for any person to list on such inventory any goods, wares or merchandise
which are not part of the regular stock of the applicant and which are not actually
in such person's place of business at the time of the application. Goods held by reason
of consignment shall be listed, together with the name and address of the consignor.
