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Find what the auditor should

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Problem 1: During the year-end physical inventory process, the auditor observed over $1.2 million worth of items staged in the shipping area and marked "Sold - Do Not Inventory." The customer had been on credit hold for three months because of bankruptcy proceedings, but the sales manager had ordered the shipping supervisor to treat the inventory as sold for physical inventory purposes. The auditor noted the terms of sale were "FOB Warehouse." After confirming no change in corporate policy, the auditor should

Reference no: EM132785025

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