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In the video tutorial, the process of printing labels and adding inventory is explained. After logging in, go to the employees screen and hit the "print labels" button. Input a SKU number for an item to print the price, name, and SKU number on a label. Select the item, number of copies, and choose what information to include. Print the label in different sizes and quantities. Most labels are printed on a zebra printer. Another way to print labels and add inventory is through the manager inventory option by selecting an item and adjusting the quantity.