Which of the following would represent the best evidence for testing the net realizable value of inventory?

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a. Investigate sales prices on the sale of inventory made after year-end.

b. Vouch inventory prices to vendor invoices at an interim date.

c. Vouch inventory prices to the perpetual inventory.

d. Investigate all prices that have decreased by more than 5% during the year.

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Auditing A Practical Approach with Data Analytics

ISBN: 978-1119401742

1st edition

Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton

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Question Posted: Jan 10, 2020 07:46 AM

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Which of the following would represent the best evidence for testing the net realizable value of inventory?

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Auditing A Practical Approach with Data Analytics

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