Refer to the Auditing Standards Exhibit inside the front cover of this textbook.
Locate the AICPA standard relating to audit evidence-specific considerations for selected items (inventory), then obtain the standard on the AICPA’s website.

a. What is the number of the standard?

b. What does the standard require the auditor to do to obtain sufficient appropriate audit evidence regarding the existence and condition of inventory? 

c. What does the standard require the auditor to do if physical inventory count is conducted at a date other than the date of the financial statements?