Abbott Corporation does not conduct a complete annual physical count of purchased parts and supplies in its principal warehouse but instead uses statistical sampling to estimate the year- end inventory. Abbott maintains a perpetual inventory record of parts and supplies and believes that statistical sampling is highly effective in determining inventory values and is sufficiently reliable to make a physical count of each item of inventory unnecessary.

Required:
a. Identify the audit procedures that should be used by the independent auditor that change, or are in addition to, normal required audit procedures when an entity utilizes statistical sampling to determine inventory value and does not conduct a 100 percent annual physical count of inventory items.
b. List at least 10 normal audit procedures that should be performed to verify physical quantities whenever an entity conducts a periodic physical count of all, or part, of its inventory.