All financial statement audits will include an audit of the inventory cycle. You should plan for the audit by setting the audit objectives. For this assignment, write and submit 300–400 words that set specific internal controls that should be included to meet the following management assertions: Existence Completeness Accuracy or valuation Rights and obligations Presentation and disclosure .

1. All financial statement audits will include an audit of the
inventory cycle. You should plan for the audit by setting the
audit objectives. For this assignment, write and submit 300–400
words that set specific internal controls that should be included
to meet the following management assertions:
Existence
Completeness
Accuracy or valuation
Rights and obligations
Presentation and disclosure