Multiple Choice
A formal review and reporting of obsolete, slow- moving, damaged and overstated inventory items:
A) involves reviewing perpetual inventory master files for inventory turnover and holding discussions with engineering or production personnel.
B) is an internal control designed to prevent the overstatement of inventory through the inclusion of obsolete inventory.
C) should be done by a competent employee.
D) All of the above are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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