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Which of the following procedures will usually be performed by the auditor to actively determine obsolete inventory? Price testing recorded inventory values Observing the condition

  1. Which of the following procedures will usually be performed by the auditor to actively determine obsolete inventory?

    1. Price testing recorded inventory values

    2. Observing the condition of inventory at the periodic count (s)

    3. Footing the inventory tag report

    4. Requesting a representation letter

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