Primal Elements,Inc is a new company that manufactures unique glycerin-blend soaps,which sell for between $7 and $9 a bar.The factory located in California in the United States has 55,000 square feet and 160 full time employees.The products are sold in 11,000 retail stores in 12 countries.2011 sales were $70 million.a.Assume you are the auditor in charge of the year-end physical inventory count for the factory.Describe what will happen during the physical inventory process;what does the client do;what does the auditor do?
b.Identify the assertions that you gather evidence for during the count and describe how you gather the evidence.c.What assertions still need to be tested after the physical count? How will you gather this evidence?

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The Answer of Primal Elements,Inc is a new company that manufactures unique glycerin-blend soaps,which sell for between $7 and $9 a bar.The factory located in California in the United States has 55,000 square feet and 160 full time employees.The products are sold in 11,000 retail stores in 12 countries.2011 sales were $70 million.a.Assume you are the auditor in charge of the year-end physical inventory count for the factory.Describe what will happen during the physical inventory process;what does the client do;what does the auditor do?
b.Identify the assertions that you gather evidence for during the count and describe how you gather the evidence.c.What assertions still need to be tested after the physical count? How will you gather this evidence?

Primal Elements,Inc Is a New Company That Manufactures Unique Glycerin-Blend