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Considerations for observing physical inventor

Describe some considerations for observing physical inventory. Explain a fraud scheme that could be used for inventory.

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When considering the observation of physical inventory, one should open sample sealed packaged goods in the warehouse to ensure they exist and empty boxes are not being mis represented and full boxes. Boxes also need to be opened as part of the sampling ...

Solution Summary

When considering the observation of physical inventory, one should open sample sealed packaged goods in the warehouse to ensure they exist and empty boxes are not being mis represented and full boxes. Boxes also need to be opened as part of the sampling process to ensure the goods described on the exterior of the box are the same as that in the box.

There should be more than one person taking inventory and ...

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