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Case - Audit of inventory Vista Food Processors

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Case - Audit of inventory Vista Food Processors LLC are a food company selling pre-packaged and short-life food stuff. They also sell some fresh foods and fruits to regular customer which demand certain oriental type of food stuff doe their clientele. The information below relates to the inventory management of the company which the audit will audit using appropriate audit. Inventory of Vista Foods Processors LLC as at 2018 and 2019 Item 2018 2019 Industry Average Inventory $147,500 $198,250 $110,000 Inventory Turnover 12 9 18

Required - Using analytical procedures identify and discuss any concerns you have about the potential misstatements in the financial statements as far as it relates to inventory and any other concerned accounts. You should consider such issues as obsolescence (out of date) of stock items and incomplete and inaccurate records of inventory.

Reference no: EM132637089

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