Solved

Your Client Counts Inventory Three Months Before the End of the Fiscal

Question 56

Multiple Choice

Your client counts inventory three months before the end of the fiscal year. Internal controls over inventory are excellent. Which procedure is not necessary for the inventory roll-forward?


A) Check that shipping documents for the last three months agree with perpetual records.
B) Tracing receiving reports for the last three months to perpetual records.
C) Compare gross margin percentages for the last three months.
D) Request the client to recount inventory at the end of the year.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions