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the first photo is all inventory and the second photo is obsolete inventory. please help answering these questions. TIA!! 1. How many obsolete items have
the first photo is all inventory and the second photo is obsolete inventory. please help answering these questions. TIA!! 1. How many obsolete items have been identified? 2. What is the total dollar amount of these obsolete items? 3. What percentage of the dollar amount of the client's inventory has been identified as obsolete? 4. What effects would the findings in question \#1 have on the auditor's assessment of the risk of material misstatement? 5. What accounts and assertions are most likely influenced by these findings? 6. What are the implications of the tests run for the quantities and total cost less than zero? Why run both tests? 1. How many obsolete items have been identified? 2. What is the total dollar amount of these obsolete items? 3. What percentage of the dollar amount of the client's inventory has been identified as obsolete? 4. What effects would the findings in question \#1 have on the auditor's assessment of the risk of material misstatement? 5. What accounts and assertions are most likely influenced by these findings? 6. What are the implications of the tests run for the quantities and total cost less than zero? Why run both tests
the first photo is all inventory and the second photo is obsolete inventory.
please help answering these questions.
TIA!!
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