Requirements:

a. Number in the empty box

b. Based on the audit of the assets accounts and ignoring other accounts, are the overall financial statements acceptable? Explain.

Start by identifying the estimate of the total overstatement based on the audit of the assets accounts and ignoring other accounts.

(write the number)

estimated ovtrstatements in the accounts are shown below Fead the recuirements (Oo not round intemediary calculations, Only round the amount you onter in the input field to the nearest dollar.) Requirements a. Assume you tested imventory amounts totaling $800.000 and found $12.000 in overstatements. Ignoring sampling risk, what is your estimate of the total misstatement in imvariory? b. Based on the audit of the assets accounts and ignoring other accounts, are the overall financial statements acceptable? Explain. c. What do you believe the auditor should do in the circumstances