BUSINESS FUNCTIONS IN THE CYCLE AND RELATED DOCUMENTS AND RECORDS Process purchase Orders Receive raw materials Store raw materials Process the goods Ship finished goods Perpetual Inventory Master Files Arens, Loebbecke, Auditing, &E @2000 by Prentice Hall. Inc.Arens, Loebbecke; Auditing, 8/E ©2000 by Prentice Hall, Inc. BUSINESS FUNCTIONS IN THE CYCLE AND RELATED DOCUMENTS AND RECORDS  Process Purchase Orders  Receive Raw Materials  Store Raw Materials  Process the Goods  Ship finished Goods  Perpetual Inventory Master Files