Top Posters
Since Sunday
r
4
L
4
3
d
3
M
3
l
3
V
3
s
3
d
3
a
3
g
3
j
3
New Topic  
brettlaw brettlaw
wrote...
Posts: 155
Rep: 0 0
2 years ago
You are auditing the inventory account and are concerned about the possibility of an inventory overstatement. What is the best audit procedure to detect damaged inventory?

▸ Observe the condition of inventory during the client's physical count.

▸ Compare the condition of inventory from the previous year's count to the current year.

▸ Compare inventory turnover from the previous year's inventory to the current year's inventory.

▸ Reconcile the inventory counts to the cost accounting records.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
Authors:
Read 43 times
1 Reply
Replies
Answer verified by a subject expert
richardbuggrichardbugg
wrote...
Posts: 162
Rep: 1 0
2 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

brettlaw Author
wrote...

2 years ago
You make an excellent tutor!
wrote...

Yesterday
Thanks
wrote...

2 hours ago
This site is awesome
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  1656 People Browsing
Related Images
  
 200
  
 320
  
 840
Your Opinion
How often do you eat-out per week?
Votes: 81