Required:

Complete all of the related steps shown above using IDEA. After completing each step, answer the following questions. $($Enter your answers exactly as they appear in IDEA.$)$

a$.$ Upon importing the Inventory $2015.$asc data file, what is the total Number of Records shown by IDEA? What is the Control Total "Net Value" for the TOTALCOST Field shown by IDEA?

b$-1.$ What percentage of inventory items have price movements in excess of $50\%?$

b$-2.$ How many of these item experienced price increases?

b$-3.$ How many of these items experienced price decreases?

$b-4.$ Which direction of change would be most concerning to the auditor: a price increase or a price decrease?

c$.$ What percentage of inventory items have negative profit margins?

d$-1.$ Determine the effect that your findings in parts $($b$)$ and $($c$)$ would have on the auditor's assessment of the risk of material misstatement.

d$-2.$ Determine which of the given accounts and assertions are most likely influenced by your findings.