Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5 correct answers You attended the inventory count of your client Davis Hydraulics Ltd. You observed the following during the count: 1. 2. 3. Warehouse

5 correct answers

image text in transcribed

You attended the inventory count of your client Davis Hydraulics Ltd. You observed the following during the count: 1. 2. 3. Warehouse staff counted specific areas of the inventory as determined by the warehouse supervisor; staff members, including the warehouse supervisor, were allocated their own area to count. Several blank paper sheets were issued to count staff for recording inventory counted. Staff were instructed to write down the inventory description and number counted. Staff were told to write the inventory quantities in pencil on the sheets to ensure errors can be corrected. Any staff that completed a section early were allocated to another area to help out one of the other staff. The supervisor collected all sheets at the end of the count to finalize the inventory count. 4. 5. 6. Which of the following are weaknesses in the inventory count performed at Davis Hydraulics Ltd? Warehouse staff performs the count Blank sheets are used to record inventory Inventory quantities are written in pencil Count teams consisted of two staff members Supervisor collects sheets at the end and finalizes the count Staff writes down the inventory description

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Data And Analytics In Accounting An Integrated Approach

Authors: Guido Geerts, Ann C. Dzuranin, Margarita Lenk

1st Edition

1119722993, 978-1119722991

More Books

Students also viewed these Accounting questions