An auditor is trying to figure out if the inventory at an electronics store chain is obsolete.

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An auditor is trying to figure out if the inventory at an electronics store chain is obsolete. From the following list, identify whether each attribute would be useful for predicting inventory obsolescence or not.

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Data Analytics For Accounting

ISBN: 9781264444908

3rd Edition

Authors: Vernon Richardson

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Question Posted: Jun 27, 2023 07:11 AM

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An auditor is trying to figure out if the inventory at an electronics store chain is obsolete. What characteristics might be used to help establish a model predicting inventory obsolescence?
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An auditor is trying to figure out if the inventory at an electronics store chain is obsolete.

Question:

Predictive Attributes 1. Inventory location 2. Purchase date 3. Manufacturer 4. Identified as obsolete 5. Sales revenue 6. Inventory color 7. Inventory cost 8. Inventory description 9. Inventory size 10. Inventory type 11. Days since last purchase Predictive?

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The auditor may look at simple metrics such as the age of the inventory eg ba...View the full answer

Data Analytics For Accounting

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