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What would the auditor conclude on the related expense

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Reference no: EM132574569

As of December 31, 2020 -

Shipping charges from a freight carrier for the month of December 2020 have not yet been invoiced. The monthly statement/invoice aren't received until January 31, 2021 and are recorded upon receipt (dr. Shipping Costs of goods Sold; cr. Accounts Payable).

Question 1: For this scenario what would the auditor conclude on whether the related expense has been properly included, properly excluded, improperly included, or improperly excluded in 2020?

Reference no: EM132574569

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