Blue Company builds Five completely outfitted and outfitted boats are built each year, with revenues surpassing $50 million. In a vast seafront yard, the company's operations are housed in manufacturing and administrative facilities. Blue company depends on a physical count as a base for the inclusion of inventory data, although maintaining records across the year.

It's now time for your organization to prepare for the year-end inventory count on December 31, 2019. To ensure that inventory count instructions are sufficient and accurate, manager in charge of audit has reviewed the instructions.

Required: a. Identify and explain FOUR inherent risks associated with the inventory and work-in- progress of blue Company. b. List THREE audit objectives of your firms attendance at the physical inventory count of Blue company on 31 December, 2019. c. Explain SIX key procedures that members of your firm should carry out when attending the inventory count of Blue company on 31 December, 2019.