For several years a client's physical inventory count has been lower than what was shown on the

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For several years a client's physical inventory count has been lower than what was shown on the books at the time of the count requiring downward adjustments to the inventory account. Contributing to the inventory problem could be weaknesses in internal control that led to the failure to record some

(a) purchases returned to vendors.

(b) sales returns received.

(c) sales discounts allowed.

(d) cash purchases.

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Accounting Information Systems

ISBN: 9780130861771

8th Edition

Authors: George H. Bodnar, William S. Hopwood

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