Taking Advantage of Clearance Clothing

Buying clothes for children can get expensive really quickly. We have been very fortunate in that we have been given a lot of clothing for my daughter. There is still some clothing that needs to be purchased though. To help keep my costs down I have been trying to pick up clearance items at the end of the season for the next year. Just this past weekend I was able to pick up several tops for her for $1.97 each and I even got an adorable skort for $4.97. To help keep up with what clothing she has in storage I decided to start an inventory. I just made up a master list of what clothing she has in what size. I'm trying to keep it simple so the list is something like this:
Tank Top - Purple - 2T
Jean Shorts - 2T
etc.
This list helps me keep tabs on what I already have so that I don't buy too much of one thing and not enough of another. By creating this list I discovered that my daughter has plenty of tops for next summer, but she needs some shorts. So now I know to keep my eyes open for clearanced shorts and to stop buying tops.

Do you buy ahead for your children? If so, how do you keep track of what you have?