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hello and welcome to the session this is professor forehead and this session weamp;#39;re going to look at an exercise that deals with the accounts payable cutoff and this is basically also itamp;#39;s going to be dealing with inventory cutoff so basically weamp;#39;re going to be looking at two topics but since we are working with the acquisition cycle so weamp;#39;re gonna be focusing on payable but also inventory with purchase inventory therefore itamp;#39;s also part of the acquisition so bear in mind this is gonna be an additional session this is the fifth session in the auditing acquisition and the payment cycle I believe itamp;#39;s a good example so go ahead and try to follow okay we have this company here the physical inventory count for a jack manufacturing was taken on December 31st 2013 so rather than December 31st because the client had to operate the plan for a special order the last day of the year so at the time of the client physical count you observed that acqui