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    Auditing and Assurance Services Study Set 2
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    Exam 21: Audit of the Inventory and Warehousing Cycle
  5. Question
    Costs Used to Value Inventory Must Be Tested by the Auditor
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Costs Used to Value Inventory Must Be Tested by the Auditor

Question 140

Question 140

True/False

Costs used to value inventory must be tested by the auditor only to determine whether the client has followed an inventory method which is in accordance with generally accepted accounting principles.

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