A Sample from the Source Documents Meets the _____________________________ Requirement

question 64

Short Answer

A sample from the source documents meets the _____________________________ requirement to determine whether transactions were actually recorded in the inventory records.
Reference: Question also found in study guide

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Definitions:

Cost Of Goods Sold

The total of all costs used to create a product or service, which has been sold.

Beginning Inventory

The total worth of a company's inventory at the beginning of a financial period.

Purchases

Items bought or acquired by a company for various purposes, primarily for resale in the course of business.

Cost Of Goods Available

The total cost of inventory available for sale during a period, calculated as beginning inventory plus purchases minus ending inventory.