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brettlaw brettlaw
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A year 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.
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Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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richardbuggrichardbugg
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A year ago
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brettlaw Author
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A year ago
This calls for a celebration Person Raising Both Hands in Celebration
lolaww
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Yesterday
Thanks
jaray75
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2 hours ago
Good timing, thanks!
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