When a physical count of inventory is performed at an interim date, the auditor observes it at that time and tests the perpetuals for transactions:
A) which are a representative sample of the period under audit.
B) from the date of the count to the end of the audit field work.
C) from the date of the count to year- end.
D) throughout the year.

Question

Quizplus · Accepted Answer

The auditor tests the perpetual inventory records from the date of the count to year-end to ensure that the inventory records are accurate and complete for the entire period under audit.

When a Physical Count of Inventory Is Performed at an Interim