StatementCorrect$/$Incorrect$1.$Ordinarily, the auditors will leave a copy of all their counts with the client so the client can correct misstatements.Incorrect$2.$Generally accepted auditing standards require that the auditor be present at each location the client maintains inventory.Incorrect$3.$The inventory of a manufacturing client will include direct labor, direct materials, and overhead components.Correct$4.$Auditors' observation of a client's counting of inventories ordinarily addresses the existence of inventory more than its completeness.Correct$5.$Inventory items consigned in should be included in the client's inventory totals.Incorrect

Correct

Incorrect