Question: 1 . Inventories are often a large _ _ _ _ _ _ _ _ _ _ blank asset of a company's balance sheet .

1. Inventories are often a large __________blank asset of a company's balance sheet.2. The accounting profession allows various methods for the __________blank of inventory.3. The determination of the value of ending inventory __________blank affects net income.4. When testing controls around inventory, auditors are considering the __________blank transaction cycle.5. An important step of testing controls is comparing quantity and __________blank in the invoice, purchase order, and receiving report.

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