QB Issue Resolution:

Yes and yes – to both questions. Premier is capable of inventory and you can create as many companies as you wish at no extra charge.

Keep in mind that all 2016 editions will no longer be supported with updates and certain online activities curtailed after May 31, 2019. 3 year life of product. QB2019 is now out and will give you supported product until May 31, 2022 for less than $400

https://quickbooks.intuit.com/desktop/premier/

Resolution for Issue 'can I manage a physical inventory through quickbooks?' available: Yes (Solved).
Source: Intuit Community forum.

can I manage a physical inventory through quickbooks?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for online activities
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Error Recovery for online activities [Canada]
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