Below is a conversation between Fran and you, Audit Junior:
FM: Hi Audit Junior.
AJ: Hi Fran, how is it going?
FM: Great, come over so I can show you something.
AJ: Sure.
FM: Mitch wrote these two audit procedures, please take a look and tell me if the work that he plans to do will address the assertions he is testing. If not, what assertions do you think his procedures cover?
1. To verify the valuation of inventory, I will obtain from the warehouse manager the Excel spreadsheet where she calculated the required year-end inventory write-off. I will review the formulas used in the calculation to make sure they are correct and recalculate all the totals.
2. The verify the rights & obligations of inventory, I will attend the year-end inventory count. While walking around the warehouse, I will enquire employees who are taking the count about any possible inventory items that have been missed during the count. For example, items located on top shelves.
AJ: Sure.

REQUIRED
a. Prepare a response to Fran’s request.
b. What is the degree of persuasiveness of the evidence that Mitch plans to obtain, “low,” “medium,” or “high”? Explain your choice.
c. Recommend more persuasive evidence that Mitch could obtain to test the inventory valuation and rights & obligations.