Below Is Information Relating to the Inventory Management of Your

question 62

Essay

Below is information relating to the inventory management of your audit client,Quick Sell.Using analytical procedures,identify any concerns you have about misstatements in the financial statements. $$\begin{array} { | l | l | l | l | } \hline & 2008 & 2009 & \text { Industry Average } \\\hline \text { Inventory } & \$ 16,500 & \$ 26,250 &\$25,000 \\\hline \text { Inventory Turnover } & 12 & 9&18 \\\hline\end{array}$$

Recognize strategies and consequences of dumping and other unfair trade practices.

Understand the characteristics and functions of forward and futures contracts.

Calculate and interpret changes in the value of futures contracts.

Recognize and explain natural hedging strategies and their applications.

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Definitions:

Human Trafficking

The illegal trade of humans for the purposes of forced labor, sexual slavery, or commercial sexual exploitation.

Sociologists Define

An approach taken by sociologists to provide explanations or meanings to societal phenomena.

Core Nations

Countries that dominate the global economy and international trade, possessing advanced technological infrastructures and high levels of productivity.

Semiperipheral Nations

Countries in the world-system that are intermediate, neither fully developed nor least developed, often marked by moderate levels of industrialization and average per capita incomes.