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11-61 LO 8 The auditor is always concerned whether slow-moving or potentially obsolete inventory… 1 answer below » 11-61 LO 8 The auditor is always concerned whether slow-moving or potentially obsolete inventory is included in inventory, and whether inventory should be reduced to a lower market value. Identify five substantive audit procedures the auditor might use to determine the existence of obsolete goods or goods whose market value is less than cost. 11-62 LO 8 Explain how GAS could be used to help identify potentially obsolete inventory. Nov 30 2015 05:13 PM
