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Audit of The Inventory and Warehousing Cycle
Audit of The Inventory and Warehousing Cycle
Chapter 21
Timing
Sample size
Selection of items
Valuation of inventory
Cost or market
Finished goods
Ending inventory
©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 21 - 34
Interrelationship of Various
Audit Tests
Work in process Finished goods
Cost of goods Cost of goods
manufactured manufactured
Finished goods
Tests of
sales and Cost of goods sold
collection cycle