MICRO TECH INDUSTRIES You have performed a test of inventory for coolescence [cout or market, whichever is lower) for a private client, Micro Tech Industries. The inventorghas become sensitive to changes in the marketability of its products. The client has not recognized an allowance for obeolescente You have been engaged to estimate the allowance Based on existing facts and circumstances, it appears that as much as 14 900.000 of inventory could be obeolate Assume the $4100,00 in material You have calculated the sample size so that an estimate of obsolescence can be obtained with a precision no greater than $4100,000 at 90% confidence, 2-zided, if the actual obsolete amount it as large as $4,100,000 You telected a 135 item monetary unit sample and evaluated the selected itama ta determine the amounts by which items' market values are less that their cont. The results of that sample are given on the sheet entitled "MUS EVALUATION REQUIRED Using the results in "MUS EVALUATION", present your conclusions in the spreadsheet entitled "CONCLUSIONS" following the guidance on Topie 6 READ ME MUS EVALUATION CONCLUSIONS ROSESSISHT SAMELECURITIEMESLSLLATOS MENT READ ME MUS EVALUATION CONCLUSIONS NAME: RESULTS (PRESENT IN GOOD PROFESSIONAL FORM) ALL MISSTATEMENTS IN THIS TEST ARE OVERSTATEMENTS OF INVENTORY DUE TO OBSOLESCENCE ALSO, MISSTATEMENTS HAVE NOT BEEN CORRECTED OR ADJUSTED FOR IN ANY WAY, SKETCH THE SAMPLE RESULTS BASED ON THE GUIDANCE IN TOPIC 6 (USE SHAPES DO NOT JUST COPY THE TOPIC 6 IMAGES B STATE YOUR CONCLUSION BASED ON YOUR SAMPLE RESULTS C SHOW THE JOURNAL ENTRY FOR A MATERIALLY CORRECT ADJUSTMENT FOR OBSOLESCENCE DR CR TO: MICRO TECH INDUSTRIES You have performed a test of inventory for coolescence [cout or market, whichever is lower) for a private client, Micro Tech Industries. The inventorghas become sensitive to changes in the marketability of its products. The client has not recognized an allowance for obeolescente You have been engaged to estimate the allowance Based on existing facts and circumstances, it appears that as much as 14 900.000 of inventory could be obeolate Assume the $4100,00 in material You have calculated the sample size so that an estimate of obsolescence can be obtained with a precision no greater than $4100,000 at 90% confidence, 2-zided, if the actual obsolete amount it as large as $4,100,000 You telected a 135 item monetary unit sample and evaluated the selected itama ta determine the amounts by which items' market values are less that their cont. The results of that sample are given on the sheet entitled "MUS EVALUATION REQUIRED Using the results in "MUS EVALUATION", present your conclusions in the spreadsheet entitled "CONCLUSIONS" following the guidance on Topie 6 READ ME MUS EVALUATION CONCLUSIONS ROSESSISHT SAMELECURITIEMESLSLLATOS MENT READ ME MUS EVALUATION CONCLUSIONS NAME: RESULTS (PRESENT IN GOOD PROFESSIONAL FORM) ALL MISSTATEMENTS IN THIS TEST ARE OVERSTATEMENTS OF INVENTORY DUE TO OBSOLESCENCE ALSO, MISSTATEMENTS HAVE NOT BEEN CORRECTED OR ADJUSTED FOR IN ANY WAY, SKETCH THE SAMPLE RESULTS BASED ON THE GUIDANCE IN TOPIC 6 (USE SHAPES DO NOT JUST COPY THE TOPIC 6 IMAGES B STATE YOUR CONCLUSION BASED ON YOUR SAMPLE RESULTS C SHOW THE JOURNAL ENTRY FOR A MATERIALLY CORRECT ADJUSTMENT FOR OBSOLESCENCE DR CR TO
