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  3. 4. assume that you have completed your procedures

4. Assume that you have completed your procedures on the audit of Glick Corporation and...

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Accounting

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4. Assume that you have completed your procedures on the audit of Glick Corporation and have found the following audit issucs. Indicate the account balance financial statement assertion that is lkely to be most impacted by each of the issues, using the following key A. Completeness B. Existence C. Rights and Obligations D. Valuation and Allocation 1. ilt was discovered that a number ef the items on hand and counted in the inventory were on consignment 2. In performing a price test of inventory items, you ound a numbor of items priced below cost 3. It appears that the selling price of certain of the 4. During the physical inventory it was noted that a comp pany's products has declined significantly. oooo number of inventory items were damaged Inventery items were stored in dhree different might be in an undisclosed fourth warchouse Some inventory itens owned by the company warchouses and the auditors fear that some items olOo were in transit during the physical inveotory

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