I can second that, it is not good practice to do it that way.
And I do not really see a benefit in doing it that way. There is really no bigger effort in creating a inventory document for a single storage bin. Nobody said that you can only do inventory for all bins at the same time.
My auditors would question this way, as they would ask for an evidence that a count was conducted, they do not like to see that somebody just erases quantities from the system.
When do you know about missing stock? Probably at the moment you a TO and cannot fulfill it. Here you have the option to post a difference directly from the TO confirmation. This way you can have a written statement on the TO form that the material was not found, and you have an automatic way to post to 999 without doing this extra 711 movement via LT01.