DOD Methodology for the Valuation of Excess, Obsolete, and Unserviceable Inventory and Operating Materials and Supplies
INSPECTOR GENERAL DEPT OF DEFENSE ARLINGTON VA
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We performed this audit at the request of the Under Secretary of Defense ComptrollerChief Financial Officer. Our objective was to evaluate the reasonableness of the DOD methodology for valuing excess, obsolete, and unserviceable EOU inventory and operating materials and supplies OMS. Background Specifically, we determined whether the methodology and assumptions provided a reasonable estimate of the net realizable value for financial reporting and were in accordance with generally accepted accounting principles. See Appendix A for a discussion of the scope and methodology, and for prior coverage related to the objective.
- Logistics, Military Facilities and Supplies