This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
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)...
View Full Document
- Fall '08
- Beginning Inventory, procurement process, human resources process, price tests, Inventory Analysis- Price