tacors Iertary tt Procedees-AecoringTols Inventory Audit Procedures Pern tere eet + ater anata The auors wl exaine your procedures fr haking any further receiving into the warehouse or Shipments fem fa the tine ofthe physal ventory count, 9 that extraneous inventory ems are excl They ype test the st few ecevng and sipping transactions per athe phys coun, 35 well 5 the aventony. Thi means that they Wil dies the suntng procedure with you, sare counts a they are company’s counters, and vty tata invertory coun aps were accourtes fo. you have mute inv + Reconcile th ventory count to the gnert edger. Hey wil ta from the phys Invertary coun athe company's gener eager, o very that he counted balence was caries fetes the anys acountng records. + Test high-value ems, thee are ersin the inventory tat ae of unusuaty hgh value, he auctor wil key ar mete othe physi count. Aucors est fr his ty revewng your Wansfe’ documentation. + Test item cot. The nudtors nee show where purchased costs your accounting eed come rom, S0 ‘thoy wal compare te emount in acent supper nvoiges ote cassie n your inventory vaistan Invlee trough your ssounting system os68 how they se hance «Diet bbr ans. rect tbr is ince in the costo ventory, then the autos wil want t trace the Invesionswhstne the bor cos atin he valaton ae suppotes by payalrecad Overhead anal. you apply overhead coast the Inventory vakntin, then the aucos wl very that you are cansstetl using the seme geal edger accounts a he source for your averhend costs, whether 1nd consetency ft meted you use to spply overs asst ventary + Inventor allowances. he score wil storie whet ne mounts you have ecrded a lances or Inventaryounersni. The austars wl review purehoerecrd to ensure hat ne ventory your warehouse 'sataly ented by the company (as apse ta cstomer-owed nvetor of fventary on ensgrment am supplies) + Inventor layer: Ifyou are ueng 9 FIFO or LIFO Invertary vaiatan system, the autre ile tne ttre company ess eyele counts tea of» phys coun, the aude can sll use the procedures eats to 3 phyla count. They smsly dose durng one or mere cyl caus, and cn do 29 any te; there 9 need 9 only ip hwwrw accourtingtols.cominvantcry-audt-proced.reserts20%6 Invertry Audit Procedtees - AecoursingTools ‘The extent othe procedures emloye wl decine inventory contutes ralavaly smal propria ofthe asses Related Topics ow do ensure a proper inventory cutotT? ow do I improve Inventory record accuracy? ow do I reconcile inventory? ventory interna controle “Types of inventory ereors Edge esouenty comcrntony ip hwwrw accourtingtols.cominvantcry-audt-proced.res