What are the major analytical procedures for testing the overall reasonableness of inventory?

Analytical procedure/type of potential misstatemen.

Compare gross margin percentage with previous years. Overstatement or understatement of inventory amounts (prices and/or quantities). Compare inventory turnover with previous years. Obsolete inventory. Compare unit costs with previous years. Overstatement or understatement of unit costs. Compare extended inventory value with previous years. Errors in compilation, unit costs, or extensions. Compare current year manufacturing costs with previous years. Misstatement of unit costs of inventory, especially direct labor and manufacturing overhead.