【单选题】Folklore Industries Ltd. manufactures old-fashioned pianos. During the month of February, a fire swept through the factory and warehouse, and some of Folklore’s financial records were destroyed. The a...
【多选题】78 Audit tests have confirmed that the inventory counts are accurate and there are no purchases or sales cut-off errors. One of the company's factories was closed on 30 April 20X7. The plant and equip...
A.
Agree the selling prices of inventory sold since the year-end to sales invoices and the cash book.
B.
Assess the reasonableness of management’s point estimates of realisable value of inventory that has not yet been sold by reviewing sales before the year-end, comparing the values with inventory that has been sold since the year-end and considering offers made which have not yet been finalised.
C.
For a sample of inventory sold just before and just after the year end, match dates of sales invoices/date posted to ledgers with date on related goods despatched notes
D.
For unsold inventory, assess reasonableness of provisions for selling expenses by comparison of selling expenses with inventory sold.