LUKE'S GENERALSTORE Inventory December 31, 20X7 Client's Final faventory (Excerpt): Complete below Test Iteme Item Description Auditor Notes Test Count Results: Prke Test Results Proper Action (last purchased select one): price) 115 $1.15 Select Action Total Inventory Audred Totod Mtem Description Audr Difference Quantity Price 1 Pioneer Paling Powder 6 a Dones appear dusty, sales are noted as slow mavirs Pioneer Artichoke hearts, 14 oz. 20 $1.15 $75.25 2 Pionee Title Granulaled Sugar, 4-lus. 26 $2.25 Select Action Pioneer Raking Powder 6 215 $1.15 5132.25 3 Pioneer Bread Crumbs, Plain 12 02. 21 $2.75 Select Action Pioneer Baking Sodo 20 02 48 51/72 4 Flancer Pound Cake Mlx, 15 Bones appear deniled, some damage noted. 15 $1.95 Select Action Pioneer Balsamic Vinaigrette, 16 oz. 33 $2.89 $128.37 5 Foncer Baking Soda 10 02. 49 $2.4 Select Action Pioneer Oreo Cromnes Plain 12 oz. 22 $2.85 $27.75 6 Pioneer Balsamic Vinaigrette, 16 Dr. $2.09 Select Action Free Coffee, Breuk/ust Blend, 122 S479.22 7 Pioneer Atlichuke larts, 11 02. 29 51.25 Select Action Pioneer Fine Grand Sugar, 4-ths. 36 $2.75 $99.00 & Pioneer Coffee, Breakfast Blend, 17 az 97 54.80 Select Action Pioneer Pound Cake Mix, 15 oz. 19 $1.55 $23.25 instructions: You are involved with the audit of Luke's General Starc 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), 11 for each audit test item above, select the proper action to be taken from the list of possible actions at right) 21 Calculate the Audited Totals for each Inventory items and Audit Differences lifanyl in the arca to the right of the client's Inventory 3) Propose the adjusting lournal Entry for the audit difference total in the area provided (use Inventory and cost of Goods Sold cours) List of Possible Actions: A Exception with quantity il test count; calculate the difference and propose au adjustucut B Excxplius will value in price list: calculate tha: Jillian proposal adjustactit. 1xception with quantity in test count and value in price test: enlarlate the difference and propose an adjustment. D Not an exception, na lur her husbil work is necessary. Follow up on valuation rechiction for damaged or possible expired goods Provide Journal Entry with Debit and credit accounts, description and amounts below: Delit Credit LUKE'S GENERALSTORE Inventory December 31, 20X7 Client's Final faventory (Excerpt): Complete below Test Iteme Item Description Auditor Notes Test Count Results: Prke Test Results Proper Action (last purchased select one): price) 115 $1.15 Select Action Total Inventory Audred Totod Mtem Description Audr Difference Quantity Price 1 Pioneer Paling Powder 6 a Dones appear dusty, sales are noted as slow mavirs Pioneer Artichoke hearts, 14 oz. 20 $1.15 $75.25 2 Pionee Title Granulaled Sugar, 4-lus. 26 $2.25 Select Action Pioneer Raking Powder 6 215 $1.15 5132.25 3 Pioneer Bread Crumbs, Plain 12 02. 21 $2.75 Select Action Pioneer Baking Sodo 20 02 48 51/72 4 Flancer Pound Cake Mlx, 15 Bones appear deniled, some damage noted. 15 $1.95 Select Action Pioneer Balsamic Vinaigrette, 16 oz. 33 $2.89 $128.37 5 Foncer Baking Soda 10 02. 49 $2.4 Select Action Pioneer Oreo Cromnes Plain 12 oz. 22 $2.85 $27.75 6 Pioneer Balsamic Vinaigrette, 16 Dr. $2.09 Select Action Free Coffee, Breuk/ust Blend, 122 S479.22 7 Pioneer Atlichuke larts, 11 02. 29 51.25 Select Action Pioneer Fine Grand Sugar, 4-ths. 36 $2.75 $99.00 & Pioneer Coffee, Breakfast Blend, 17 az 97 54.80 Select Action Pioneer Pound Cake Mix, 15 oz. 19 $1.55 $23.25 instructions: You are involved with the audit of Luke's General Starc 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), 11 for each audit test item above, select the proper action to be taken from the list of possible actions at right) 21 Calculate the Audited Totals for each Inventory items and Audit Differences lifanyl in the arca to the right of the client's Inventory 3) Propose the adjusting lournal Entry for the audit difference total in the area provided (use Inventory and cost of Goods Sold cours) List of Possible Actions: A Exception with quantity il test count; calculate the difference and propose au adjustucut B Excxplius will value in price list: calculate tha: Jillian proposal adjustactit. 1xception with quantity in test count and value in price test: enlarlate the difference and propose an adjustment. D Not an exception, na lur her husbil work is necessary. Follow up on valuation rechiction for damaged or possible expired goods Provide Journal Entry with Debit and credit accounts, description and amounts below: Delit Credit