Fox Ltd is in the computer sales business. Fox's auditor has conducted an analysis of the...
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Fox Ltd is in the computer sales business. Fox's auditor has conducted an analysis of the unaudited figures in preparation for setting the audit strategy. The calculations reveal that inventories turnover is lower this year than last, even more than the auditor expected given the additional competition in Fox's main markets. Required Explain how the turnover ratio analysis would affect the audit strategy for Fox. Fox Ltd is in the computer sales business. Fox's auditor has conducted an analysis of the unaudited figures in preparation for setting the audit strategy. The calculations reveal that inventories turnover is lower this year than last, even more than the auditor expected given the additional competition in Fox's main markets. Required Explain how the turnover ratio analysis would affect the audit strategy for Fox.
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The turnover ratio analysis specifically in this case the inventory turnover ratio has revealed that 4 Fox Ltds inventory turnover is lower this year compared to the previous year even more so than wh... View the full answer
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