Bafu Ltd., a private limited company, manufactures a wide range of bathroom fittings. These fittings are made from steel components which are chromed in small vats. The steel components are sourced from outside suppliers. The year end stock mainly consists of these steel components and finished items. As at 31 October 2004, the total stock was valued at Sh. 6,048,000 out of total assets of Sh. 19,200,000. This stock figure was obtained by a physical count as at 31 October 2004, and valuation by reference to purchase invoices and manufacturing cost estimates. Required: With reference to each of the matters listed below, state the work you would do to conclude whether the amount attributed to stock is fairly stated;Cut-off procedures

Cut-off Procedures
• Verify that the value of stock as given is not inclusive of previous year‘s closing stock. This would entail ascertaining the value of opening stock (if any) and subtracting from this, the value of units produced in the current year.
• Check that no sales figure for finished goods (awaiting collection) is included into stock.
• Ensure that steel components ordered for, but not yet delivered (in-transit) from the suppliers, are recorded in the purchases journal in the appropriate period, and not as part of closing stock.
• From the duplicate book of stores ledger cards, obtain the last few (may be five) stores receipt forms recorded immediately before year end and trace to invoice to ensure the invoice is dated before year end.
• Verify that own material is not included as stock.