MULTIPLEL question. ion planner determines what inventory is need for future 1D 7A) finished goods inventory status report for the product being produced. availability report from human resources. B) manpower C) standard costs for the product being produced D) bill of materials for the product being produced 21 While observi s and noticed that certain test counts were higher than the several items and noticed that cenventory, an auditor recorded test counts for 2) ties in the elient's perpetual records. This situation could be the result of the quanti client's failure to record A) sales returns. B) purchase returns. D) purchase discounts. C) sales. Selecting a sample of cost accounting reports for labor and vouching it to time A) presentation and disclosure ure designed to test the ASB transaction assertion of is a procedure B) occurrence. D) valuation. C) completeness. a sample of items from the perpetual inventory records to the receiving 4) reports achieves the specific ASB balance assertion of A) valuation. B) presentation. D) completeness. C) occurrence hich of the following procedures would be most appropriate for testing the completeness assertion as it applies to inventory? cing inventory items from the tag listing back to the physical inventory Tra A) quantities. B) Pe C) Scanning perpetual inventory, production, and purchasing records. D) Examining paid vendor invoices. rforming cutoff procedures for shipping and receiving. 6) An auditor most likely would make inquiries of production and sales personnel concerning possible obsolete or slow-moving inventory to support management's financial statement (PCAOB) assertion of A) existence or occurrence. C) presentation and disclosure. B) rights and obligations. D) valuation or allocation