What is Physical Inventory Count?
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Which of the following is not a reason for the physical inventory count to differ from what is recognized on the company’s books? A. mismanagement B. shrinkage C. damage D. sale of services to customers | Numerade
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Your client took a complete physical inventory count under your observation as of December 15 and adjusted the inventory control account (perpetual inventory method) to agree with the physical inventory count. After considering the count adjustments as of December 15 and after reviewing the transactions recorded from December 16 to December 31, you are almost ready to accept the inventory balance as fairly stated. However, your review of the sales cutoff as of December 15 and December 31 disclos
Your client took a complete physical inventory count under your observation as …
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