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Author Question: Assume that the client's valuation of an inventory item is $10 per unit for 1,000 units, using ... (Read 84 times)

xsk4r3kr0w

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on: Aug 21, 2022

Question 1

A major source of cutoff information for sales and purchases of inventory is
◦ confirmations from outside parties.
◦ the test of details of balances.
◦ physical observation.
◦ the performance of analytical procedures.

Question 2

Assume that the client's valuation of an inventory item is $10 per unit for 1,000 units, using first-in, first-out (FIFO). If the most recent acquisition of inventory was for 600 units at $10 per unit and the immediately preceding acquisition was for 700 units at $9 per unit, the inventory item is in error and it is
◦ understated $400.
◦ understated $300.
◦ overstated $400.
◦ overstated $700.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by xsk4r3kr0w on Aug 21, 2022

kaynelson17

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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xsk4r3kr0w

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Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

coreycathey

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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