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Obtain a schedule of all raw materials, finished goods and work in progress (WIP) inventory and cast to confirm completeness and accuracy of the balance and agree to trial balance and financial statements.
maam despite the question asking for SPs related to inventory VALUATION, the above SP has been included which is just muddling me to the core!
Because accuracy is “subsumed” within the “collective” assertion “accuracy, valuation and allocation” – page 86.
oh noooo, this is what happens when I become a bundle of nerves hours before the exam! totally my bad! thanks for the reminder ma’am…
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