So far, the results for auditing Cost of Sales account at Merihon are provided below. Value of the account (population): $191,200,000 Value of the sample audited of the account: $710,000 Misstatements detected in the account: $41,000 The tolerable level of misstatement for this account is $4 million. The most common cause for misstatements was using incorrect prices for building supplies - especially where rebates were provided later by suppliers. What is the most appropriate action to take next? Make a conclusion that the Cost of sales account does not contain a material misstatement because the misstatements detected is below the tolerable level of misstatements. Make a conclusion that the Cost of sales account does not contain a material misstatement because the projected value of misstatements is below the tolerable level of misstatements. Project the results and determine that the Cost of sales account contains a material misstatement and conduct further substantive testing related to the accuracy assertion Project the results and determine that the Cost of sales account contains a material misstatement and conduct further substantive testing related to the occurrence assertion