All inventory items are not counted or tagged.

Extension errors are made on the client's inventory summaries.

Purchase received near the balance sheet date may be included in the physical count but may not be booked.

Obsolete and damaged goods are not noticed in the warehouse.

Inventory stored in a public warehouse may not exist.

Client personnel may incorrectly count the inventory.

The lower of cost or market method may be incorrectly applied.

Empty containers or hollow squares may be included in the inventory.

Goods held on consignment may be included as inventory.

Losses on purchase commitments may not be recognized.

a) Identify the substantive test that should detect each error.

b) For each test, indicate the financial statement assertion(s) to which it pertains.

c) Indicate the type of audit procedures used for each substantive test.