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Unformatted text preview: inventory turnover was performed during the audit of Jones Manufacturing Company to determine whether inventory should be written down due to obsolescence. a. Is the total proposed adjustment, $45,487, material? What factors go into your judgment? b. What factors may need further consideration before the auditor argues for a write-down on item no. J665? c. What arguments could Jones Manufacturing's management advance to defend against an obsolescence write-down?...
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- Fall '08