Tutorial Question for Inventory You are one of the audit team members who are assigned to audit the financial statements of ABCDE Bhd, a prominent company in the Malaysian manufacturing industry. You were asked by your team leader to audit the inventories. The draft accounts show the following movements of inventories during the financial year ended 31 December 2018: INVENTORIES At cost: Finished Goods Marine fuels and lubricants Consumable goods NOTES 2018 RM Note C: Finished goods include defect products amounting to RM1,000 6,165 3,841 9,234 19,240 2017 RM 5,963 3,510 2,749 12,222 Required: 1. Based on the above information, explain two (2) assertions and audit procedures for inventories that the auditor should be most concerned with. 2. Describe one (1) substantive audit procedure that should be performed to ensure ABCDE Sdn. Bhd. has properly disclosed the inventories 3. Propose correction measure if procedure performed for question 2 found any irregularities. 4. Discuss analytical procedures for inventories