III. Your audit client, Banner, is a retail sporting goods store. You are currently working on the
inventory portion of the audit. In obtaining audit evidence in support of financial statement assertions, the auditor develops specific audit objectives in response to those assertions. Audit procedures are then
selected to accomplish audit objectives.
                                    Audit Objective
______________________________________________________For each audit objective above, indicate the symbol of the substantive procedure that would help to
achieve that objective. Each of the procedures may be used once, more than once, or not at all.
Symbol Substantive Procedure
A. Examine current vendors' price lists.
B. Review drafts of the financial statements.
C. Select a sample of items during the physical inventory count and determine that they
have been included on count sheets.
D. Select a sample of recorded items and examine supporting vendors' invoices and
contracts.
E. Select a sample of recorded items on count sheets during the physical inventory count
and determine that items are on hand.
F. Test reasonableness of direct labor rates.
G. Select a sample of sales around the year-end and trace each to shipping documents.
Please copy the following table on your answer sheet and organize your solution into the table.

【題組】1. The entity has legal title to inventories.