Identify six or more internal controls in Honey Best’s inventory and warehousing cycle. For each control identified, list a corresponding test of controls that can be used to test the effectiveness of internal controls over inventory.
You are responsible for the audit of inventory for Honey Best Grocery Wholesale, Inc., a closely held grocery wholesaler that sells to independent grocery stores. Inventory is by far the largest account on their balance sheet. Honey Best operates in 10 southeastern states with a central distribution center in Atlanta and local distribution centers in […]