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Instructions provided in picture. Please answer all yellow highlights. Thx Complete below Item Description Item# Inventory December 3 20X7 Auditor Notes Boxes appear dusty, sales

Instructions provided in picture. Please answer all yellow highlights. Thx

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Complete below Item Description Item# Inventory December 3 20X7 Auditor Notes Boxes appear dusty, sales are noted as slow moving Boxes appear dented, some damage noted. Test Count Results: Price Test Results (last Proper Action (select one): Client's Final Inventory (Excerpt): Item Description Pioneer Artichoke Hearts, 14 oz. Pioneer Baking Powder 6 oz. Pioneer Baking Soda 10 oz. Pioneer Balsamic Vinaigrette, 16 oz. Pioneer Bread Crumbs, Plain 12 oz. Pioneer Coffee, Breakfast Blend, 12 oz. Pioneer Fine Granulated Sugar, 4-1bs. Pioneer Pound Cake Mix, 15 oz. List of Possible Actions: Quantity Price $1.25 $1.15 $2.45 $.89 $2.75 $4.89 $2.75 $1.55 Total Inventory $6.25 $132.25 $117.60 $128.37 $7.75 $479.22 $9.00 $23.25 Audited Total Audit Difference 2 3 4 5 6 7 8 Pioneer Baking Powder 6 oz. Pioneer Fine Granulated Sugar, 4-1bs. Pioneer Bread Crumbs, Plain 12 oz. Pioneer Pound Cake Mix, 15 oz. Pioneer Baking Soda 10 oz. Pioneer Balsamic Vinaigrette, 16 oz. Pioneer Artichoke Hearts, 14 oz. Pioneer Coffee, Breakfast Blend, 12 oz. purchased price): $1.15 select Action $2.25 select Action $2.75 select Action $1.55 select Action $2.45 select Action $2.89 select Action $1.25 select Action $4.89 select Action Instructions: You are involved with the audit of Luke's General Store and have been asked to consider the results for the test counts and price tests along with the auditor's notes (above). Review the excerpt from the client's final inventory list (top right). 1) For each audit test item above, select the proper action to be taken from the list of possible actions (at right) 2) Calculate the Audited Totals for each inventory items and Audit Differences (if any) in the area to the right of the client's inventory A B C D E Exception with quantity in test count; calculate the dfference and propose an adjustment. Exception with value in price test; calculate the dfference and propose an adjustment. Exception with quantity in test count and value in price test; calculate the dfference and propose an adjustment. Not an exception: no nt_her audit work is necessary F ollow up on valuation reduction for damaged or possible expired goods. 3) Propose the Adjusting Journal Entry for the audit difference total in the area provided (use Inventory and Cost of Goods Sold accounts) Provide Joumal Entry with Debit and Credit accounts, description and amounts below: Debit Credit

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