That's one of its purposes, yes
Would be quite annoying picking up after a battle without it--I'm surprised you've made it this far without having brought up this annoyance before!
(Side note: While in some regards it would be nice to have this information available direction on the map, that can greatly increase the amount of clutter and reduces overall readability, so it's better to show only names and ratings on the map, and color by general category, to allow quicker parsing of what items you may be interested in, then allow for confirmation of the details in the scan window as a secondary check.)
