You are planning the audit of a company that manufactures outdoor equipment in Chicago and has distribution

Question:

You are planning the audit of a company that manufactures outdoor equipment in Chicago and has centers in Chicago, Boston, Tampa, Houston, Denver, and San Francisco. The client has provided a download of its inventory records of finished goods that contains the following information:
• Stock number
• Product line code
• Date of last sale
• Number sold year-to-date
• Number returned year-to-date
• Number of defectives returned year-to-date
• Unit cost
• Quantity on hand
• Extended cost
• Current selling price
• Location code

Required
Write, in good form, an audit program that identifies the specific procedures for which ACL can be used to help you audit this inventory.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...