To gain assurance that all inventory items in a client's inventory listing schedule are valid, an auditor most likely would vouch (C) items listed in the inventory listing schedule to inventory tags and the auditor's recorded count sheets.
<h3>
What are inventory items?</h3>
- Inventory item - a discrete product that can be indicated as being in stock.
- You can track inventory if your company sells stock items.
- A product purchased for resale that is tracked in Stock and on the Balance Sheet is an inventory item.
- An inventory list should, in general, include the product's name, SKU number, description, cost, and quantity.
- Inventory lists assist brands in managing and monitoring stock levels, enabling tighter inventory control and a more streamlined approach to inventory management.
- An auditor will most likely attest items listed in the inventory listing schedule to inventory tags and the auditor's recorded count sheets to get assurance that all inventory items in a client's inventory listing schedule are valid.
Therefore, to gain assurance that all inventory items in a client's inventory listing schedule are valid, an auditor most likely would vouch (C) items listed in the inventory listing schedule to inventory tags and the auditor's recorded count sheets.
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Complete question:
To gain assurance that all inventory items in a client's inventory listing schedule are valid, an auditor most likely would vouch
A. Inventory tags were noted during the auditor's observation of items listed in the inventory listing schedule.
B. Inventory tags were noted during the auditor's observation of items listed in receiving reports and vendors' invoices.
C. Items listed in the inventory listing schedule to inventory tags and the auditor's recorded count sheets.
D. Items listed in receiving reports and vendors' invoices to the inventory listing schedule.
According to dr. w. Edwards Deming's quality movement and quality efforts need to be constantly and consistently improved.
Deming is widely recognized as one of, if not the founders of total quality management. Deming is largely credited with the revolution in Japanese manufacturing management that led to the economic boom of the 1970s and 1980s.
In the 1930s, Deming was intrigued by the idea of using statistics to improve quality control. His focus was on improving production and eliminating future failures by systematically collecting failure records and investigating and correcting root causes.
Deming's philosophy known as Dr. Deming's "Management Theory" and later "systems of profound knowledge" represent a holistic approach to leadership and management. philosophy brings together an understanding of variation, epistemology, psychology, and appreciation of the system.
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Answer:
29,200 units
Explanation:
The computation of new break even point is given below:-
= Fixed Cost ÷ Contribution per unit
Fixed cost
= $625,000 + $105,000
= $730,000
Variable cost per unit = 50% of selling price
= $25
So, the break even point = $730,000 ÷ 25
= 29,200 units
Therefore for calculating the break even point we simply divide the $730,000 from 25 per unit variable cost.
Answer:
c. $210,000.
Explanation:
amount of expense to be reflected in Post's quarterly income statement
= 840,000 / 4
= $210,000
Therefore, The amount of expense that should be reflected in Post's quarterly income statement for the three months ended March 31 is $210,00.
