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Audit of cost variance allocated to finished goods inventory

 
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mrturtletan



Joined: 13 May 2007
Posts: 1

PostPosted: Sun May 13, 2007 2:17 pm    Post subject: Audit of cost variance allocated to finished goods inventory Reply with quote

My audit client applies standard costing method to value her inventory of finished goods.I know how to verify the quantities of the inventory of finished goods. But I face a problem in verifying the unit cost price of the inventory of finished goods. I also don't have an idea in apportioning the cost variances between the "Cost of goods sold" and the inventories (Raw Material and Finished Goods). Please help me to solve these problems. Thank you very much.
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