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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
    When Performing Price Tests for Purchased Inventory, the Auditor Would
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When Performing Price Tests for Purchased Inventory, the Auditor Would

Question 121

Question 121

True/False

When performing price tests for purchased inventory, the auditor would not be concerned with the most recent vendors' invoices if the client uses the FIFO valuation method.

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