A Formal Review and Reporting of Obsolete, Slow-Moving, Damaged, and Overstated

Multiple Choice

A formal review and reporting of obsolete, slow-moving, damaged, and overstated inventory items:

A) is an internal control designed to prevent the overstatement of inventory through the inclusion of obsolete inventory.
B) involves reviewing perpetual inventory master files for inventory turnover and holding discussions with engineering or production personnel.
C) should be done by a competent employee.
D) all of the above