What is the best way to maintain the small tools and equipment through Inventory

Summary: What is the best way to maintain the small tools and equipment through Inventory? Normally, the large tools and equipment are controlled and used by finance through the FA module, however, there are some small tools and equipment that are only controlled and used by a store for multiple projects. Once it's damaged or expired, it will be consumed and charged to the project.

What is the best approach to be followed to cover the above scenario and what will be the impacts on costing and GL?

Version (include the version you are using, if applicable): 21 C

Code Snippet (add any code snippets that support your topic, if applicable):