Hey Chegg Team, Please see my question below: Reactor Ltd fully owns and operates bicycle shops in all the major cities in Australia. It purchases its stock comprising of bicycles, clothing, accessories and bicycle parts from a wide range of suppliers and sells them to its clients (mainly the general public) through its physical stores. It does not have an online presence. Its clients make payments of these goods via cash or credit card and these are processed through electronic tills. Reactor Ltd purchases all stock on varying credit terms depending on the supplier. The main office is located in Brisbane. This office orders the goods and processes the associated payments. All invoices are paid once the relevant documents are approved by the main office for payment. Delivery is made direct to the stores located Australia-wide from the supplier. This produces significant cost savings as there is no need for a warehouse to hold the stock. A perpetual inventory system is used by Reactor Ltd to monitor all its stock purchases and the staff at all its bicycle shops conduct stocktakes several times a year. Required (a) What controls would you expect to see over inventory movements at the local store level and the main office? (b)Explain how you would audit the stocktake for Reactor Ltd. What details would you focus on most? Cheers