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Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343 Exercise 517
Alice Rathermel audited LoHo Company's inventory using sampling. She examined 120 items from an inventory compilation list and discovered net overstatement of $480. The audited items had a book (recorded) value of $48,000. There were 1,200 inventory items listed, and the total recorded inventory amount was $490,000. What is the projected misstatement using mean-per-unit estimation?
A) $480
B) $576,000
C) $10,000
D) $480,000
A) $480
B) $576,000
C) $10,000
D) $480,000
Explanation
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Verified
Projected misstatement is the difference...
Auditing & Assurance Services 6th Edition by Timothy Louwers
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