HuskyCorporation (LO 5, 8) Assume that you are auditing inventory of HUSKY Corp. as of December 31, 2013. The inventory general ledger balance is $8,124,998.66. HUSKY manufactures lawn and garden tractors, snowmobiles, and supplies. Download the data file labeled HUSKY Inventory 2013 from the books website under Student Resources. This file contains the following information:

SNUMB	Stock number (The first letter is Ffinished goods, Wwork in progress, Rraw material.)
LASTSALE	Date of last sale (finished goods) or use (raw material)
NUMSOLD	Number sold (finished goods) or used (raw materials) year-to-date
UNITCOST	Unit cost
INVQTY	Quantity on hand
EXTCOST	Unit cost 3 Quantity on hand
SELPRICE	Current selling price (finished goods only)
REPLCOST	Current replacement cost (raw material only)

Also, note that salespersons receive a 10% commission based on selling price.

Using the menu option Analyze, choose Statistical then Statistics on the amount field, print the statistics, and agree the total inventory to the general ledger.

Extract and print out all inventory items that have not been used or sold in six months. Include in the printout the total extended cost of those items.

Extract the finished goods into a separate file (Hint: Use the expression SNUMB 5 = F):

Extract those items that have a net realizable value less than cost. Add a column and calculate the amount each of those items that should be written down, and print a report that includes those items and the total of the write-down.

Add a field and calculate inventory turnover for each item in inventory. Extract and print a report of those items with a turnover less than 2. The report should include the total extended cost of those items.

Extract the raw materials into a separate file (see hint in Part c, but replace F with R):

Extract those items that have a replacement cost less than cost, add a column and calculate the amount each of those items that should be written down, and print a report that includes those items and the total of the write-down.

Add a column and calculate inventory turnover for each item. Extract and print a report of those items with a turnover less than 2. The report should include the total extended cost of those items.

Prepare a report of the audit implications of your findings, indicating any additional procedures that should be performed.