A client maintains perpetual inventory records in both quantities and dollars. If the auditor is...
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Accounting
A client maintains perpetual inventory records in both quantities and dollars. If the auditor is able to accept a high level of detection risk, the auditor would probably:
Multiple Choice
request the client to schedule the physical inventory count at the end of the year.
request that the client perform physical counts of inventory items several times during the year.
increase the extent of substantive procedures in the inventory cycle.
apply gross profit tests to ascertain the reasonableness of the physical inventory counts.
Please include explanation
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