An auditor perform the following procedure

1. Ask the accounts payable clerk about procedures for verifying prices, quantities, and extensions on vendors' invoices.

2.Select a sample of inventories in the warehouse and trace each of item to the inventory count sheet to determine if it has been included and if the quantity and description are correct

3. Add the sales journal for the month of July and trace amounts to the general ledger.

Question

1. identify the transaction cycle being audited

2. identify the type of audit test being performed