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. $$\begin{array} { | l | l | l | l | } \hline & 2008 & 2009 & \text { Industry Average } \\\hline \text { Inventory } & \$ 16,500 & \$ 26,250 &\$25,000 \\\hline \text { Inventory Turnover } & 12 & 9&18 \\\hline\end{array}$$

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Definitions:

Shyness

A feeling of apprehension, lack of comfort, or awkwardness especially when a person is around other people.

Decreased

To become smaller or less in size, amount, intensity, or degree.

Fluctuated

To change or cause to change position constantly; to vary or oscillate unpredictably.

Big Five

A psychological framework that defines personality through five major traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.