Question
I need the full brief for the answer my subject is Auditing ------ Case 5: You are the auditor for KWC Corporation. You gathered comparative
I need the full brief for the answer my subject is Auditing
------
Case 5: You are the auditor for KWC Corporation. You gathered comparative information for inventory and accounts payable and calculated the days purchases in accounts payable.
|
| 2018 | 2019 |
| Inventory | $34,270 | $57,921 |
| Accounts payable | $8,295 | $10,628 |
| Days purchases in accounts payable (365 days/payables turnover) | 44.2 days | 44.6 days |
Required:
what is the effect of overestimate or underestimate of inventory on the financial statements?
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Wiley CPAexcel Exam Review April Study Guide Regulation 2017
Authors: Wiley
2nd Edition
1119369436, 978-1119369431
