Wholesale Plumbing Supply Assume that you have selected the following nonstatistical sample for selecting accounts receivable for confirmation. The total book value of the population is $9,000,000, and tolerable misstatement is $350,000. You have decided to audit every item over $50,000 and randomly select items in two groups under $50,000, as the following shows. You selected the following sample.

Stratum		N		n		Book Value of Stratum			Book Value of Sample			Audit Value of Sample
> $50,000		20		20		$3,000,000			$3,000,000			$2,948,000
$50,000 > x > $5,000		100		30		3,000,000			1,000,000			970,000
< $5,000		300		30		3,000,000			300,000			280,250
						$9,000,000			$4,300,000			$4,198,250

Evaluate results judgmentally: Determine the estimated audited value of the population using nonstatistical ratio analysis.

Estimated audited value of the population

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