Purge Cycle Count

This is an old cycle count that was never completed due to problems, or scheduling
Still cannot make the changes due to a transaction in process showing for CC1. System says "There are pending cycle count entries or physical inventory adjustments for this item. Please process these changes before proceeding."

I see on the toolbar a "Purge Cycle Count". I am not sure what ramifications, if any, there are to doing this, and if this is even what I need to do.Looking for guidance to cancel this old cycle count.