Relationship of Inventory to Other Accounts When There Are No Perpetual records Beginning Purchases Ending Cost of Inventory Inventory Goods sold Inventory Audited in Audited primarily Audited Residual prior year through TOC, through STOT analytical analytical pro- procedures cedures andand tests of analysis of details of purchases balances Arens, Loebbecke, Auditing, &E @2000 by Prentice Hall. Inc.Arens, Loebbecke; Auditing, 8/E ©2000 by Prentice Hall, Inc. Relationship of Inventory to Other Accounts When There Are No Perpetual records