Identify a control activity over inventory valuation

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Question - You are auditing the inventory of Green Pastures Ltd for the year ended 30 June 2018. Raw materials are imported from Korea and the purchasing clerk prepares costing sheets, including the costs required to bring the inventory to its location, and the translation of foreign currency using appropriate foreign exchange rates. The costing sheets for work-in-progress and finished goods are completed by the assistant management accountant, as they also require the difficult allocation of overheads. All costing sheets are approved by the management accountant.

REQUIRED - Identify a control activity over inventory valuation.

Reference no: EM132521027

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