Question: The audit objective Recorded inventory quantities include everything on hand is related to which Audit procedure? a. Examine current vendor price lists. b. Review drafts

The audit objective Recorded inventory quantities include everything on hand is related to which Audit procedure?

a. Examine current vendor price lists.

b. Review drafts of the financial statements.

c. Select a sample of items during the physical inventory count and determine that they have been included on count sheets.

d. Select a sample of recorded items on count sheets during the physical inventory count and determine that items are on hand.

e. Select a sample of recorded items and examine supporting vendors' invoices, and contracts.

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