Bldgs.

2A & 7, CCMC Compound, Industrial Area

www.dpi.com.ph Veterans Center, Taguig City www.info@livingwater.com.ph
dpi_prints@yahoo.com Telefax No. (02) 837-8415 livingwlivingwaterphil@yahoo.com.ph

Demand Letter

Date : 10 April 2019

Branch : WOW-Imus Branch

EDWIN DEMIN

From : Accounting Department

Subject : INVENTORY COUNT VARIANCES

In an inventory audit, the auditor uses several procedures to check the company’s inventory
methods and confirm that the financial records and actual physical count of goods match.

The following formulas are consistently applied throughout the count:

*Inventory from Last Count + Items Purchased – Items Sold = Inventory for Latest Count as per the
Records

*Inventory Variance = Actual Inventory – Inventory as per the Records

The branch addressed on this report has an inventory variance of 158,881 based on the inventory
count conducted on January 24, 2019 covering the transactions of the period August 19, 2018-
January 22, 2019.

For your reference, kindly see attached for the Audit Report.

Prepared by: Pre-Approved by: Concurred by:

Ferdah Reeza G. Yusop Edward Albert Prades Belyne Prades

ACCOUNTING - LWSI VICE PPRESIDENT-LWSI PRESIDENT – LWSI

Page 1 of 1
 Bldgs. 2A & 7, CCMC Compound, Industrial Area
www.dpi.com.ph Veterans Center, Taguig City www.info@livingwater.com.ph
dpi_prints@yahoo.com Telefax No. (02) 837-8415 livingwlivingwaterphil@yahoo.com.ph

Demand Letter

Prepared by: Pre-Approved by: Concurred by:

Ferdah Reeza G. Yusop Edward Albert Prades Belyne Prades

ACCOUNTING - LWSI VICE PPRESIDENT-LWSI PRESIDENT – LWSI

Page 2 of 1