The Overall Objective of the Audit of the Inventory and Warehousing

Multiple Choice

The overall objective of the audit of the inventory and warehousing cycle is:

A) to determine that errors in the acquisitions and payroll cycles have not impacted on inventory pricing.
B) to determine that inventory is not obsolete.
C) to determine that raw materials, work- in- process, finished goods inventory and cost of goods sold are fairly stated in the financial statements.
D) to determine that raw materials, work- in- process, finished goods inventory and cost of goods sold are accurate.