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    Auditing and Assurance Services Study Set 1
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    Exam 21: Audit of the Inventory and Warehousing Cycle
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    If the Perpetual Inventory Master Files Show Lower Quantities of Inventory
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If the Perpetual Inventory Master Files Show Lower Quantities of Inventory

Question 45

Question 45

True/False

If the perpetual inventory master files show lower quantities of inventory than the physical count, one explanation of the difference might be unrecorded sales.

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