Question
Inventory has 1,000 SKU items and a book value of $2,908,144. You test a sample of 250 SKU items having a book value of $727,036.
Inventory has 1,000 SKU items and a book value of $2,908,144. You test a sample of 250 SKU items having a book value of $727,036. The audited value of your sample is $725,000. If tolerable error is $290,000, would you conclude that inventory is Materially overstated Not materially overstated Need additional evidence Materially understated
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Cost And Management Accounting An Introduction
Authors: Colin Drury
5th Edition
1861529058, 978-1861529053
