1. Marissa and Alan are working on the audit of Tigre Enterprises, and have been tasked by their supervisor to independently determine a correct amount for cost of goods sold. Which of the following would be the most appropriate method to do this? a. Marissa and Alan should add beginning inventory and ending inventory together, and then subtract purchases made during the year by the client. b. Marissa and Alan should consult the client's records pertaining to cost of goods sold and record this figure in the current year's audit file. c. Marissa and Alan should subtract ending inventory from purchases made during the year by the client. d. Marissa and Alan should consider determining beginning and ending inventory and purchases made during the year. 2. Jackson CPAs are preparing to begin the audit of Mcllwee Enterprises. During an initial meeting with the client, it was noted that the client maintains a large amount of inventory on a consignment basis. Based on this information, which of the following is true? a. The auditors should consider issuing a qualified opinion on the client's inventory accounts due to the difficulty associated with auditing them. b. The auditors should consider performing procedures to test the rights and obligation assertion associated with the client's inventory. c. The auditors should consider requesting the client perform a formal, manual count of inventory which the auditor can use as evidence. d. The auditors should consider obtaining written assurances from senior management attesting to the accuracy and valuation of the inventory