Question: You have been assigned to perform audit procedures on a Company's inventory balances. The procedures you performed included attending the Company's physical inventory count procedures

You have been assigned to perform audit procedures on a Company's inventory balances. The procedures you performed included attending the Company's physical inventory count procedures to count the inventory quantities at the end of the reporting period. This audit procedure would be considered which of the following:

Reperformance

External confirmation

Recalculation

Observation

Inquiry

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