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The perpetual inventory system subtotals the quantity of inventory in the system and interfaces with the general ledger system on a daily basis to ensure
The perpetual inventory system subtotals the quantity of inventory in the system and interfaces with the general ledger system on a daily basis to ensure quantities agree.
For each of the internal controls:
Identify the related transaction-related audit objective(s) affected by the control.
Describe risks the control is designed to mitigate.
Design a test of control to determine if the control is operating effectively
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