Hi Danny,
When the sloc is both WM and HU managed, you need to follow the WM inventory procedure with LI01N, LI11N, LI20 and LI21.
Physical Inventory of Handling Units - Handling Unit Management (LO-HU) - SAP Library
Please double check if your sloc is WM and HU managed. See table T320.
If sloc is only HU managed then use HUINV01 / 03 / 05.
-Sushant