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Author Question: In valuing inventory, the auditor must consider all but which of the following factors? (Read 48 times)

shivanipalawai@gmail.com

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on: Aug 21, 2022

Question 1

If an auditor were concerned with obtaining evidence about the appropriateness of the value of inventory, which of the following tests would be most appropriate?
◦ compilation tests
◦ price tests
◦ confirmation of inventory held by outside parties
◦ physical examination of the inventory

Question 2

In valuing inventory, the auditor must consider all but which of the following factors?
◦ The valuation method must be in accordance with GAAP.
◦ The valuation method must be applied on a consistent basis.
◦ The inventory must be valued at the lower of cost or market.
◦ LIFO must be used for work-in-process inventory.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by shivanipalawai@gmail.com on Aug 21, 2022

KobyRhoads

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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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shivanipalawai@gmail.com

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

scikid

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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