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Unformatted text preview: if inventory is kept in a public warehouse, confirm with custodian E. Analytical review GM% Inventory Turnover Units costs of prior years inventory ending balances W.R. Knechel Inventory in a Manufacturing Concern Physical Flow: Finished Raw Materials WIP Inventory Goods Inventory Beg. Inventory Beg. Inventory Beg. Inventory Purchases Transfers Out Transfers In Transfers In Mfg. O/H Labor Transfers Out CGS Ending Inventory Ending Inventory Ending Inventory Total O/H (Supply Chain & Procurement Process) Direct Labor Hours (Human Resources Process) Or Total O/H Machine Hours (tie to machine usage reports) Beginning Inventory was audited last year Purchases (Supply Chain &: Procurement Process Labor (Human Resources process) Cost of Goods Sold (Supply Chain & Procurement process Ending Inventory RM, WIP, and FG (Physical examination)...
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- Fall '08