Y'ou are completing your audit of CPT Ltd, an importer of cell phones from Taiwan, Total sales this year were $65,000,000. The results of your audit work on inventory are summarized in the following table:

Deacription

Population

Sample

Error found

# OT SKU'

$ Value

150

$6,100,000

40

$2,850,000

8

$240,000

required

using the monetary unit method, calculate the projected inventory error, and, assess it against materiality,

ou are completing your audit of CPT Ld, an importer of cell phone from Twe. To this year were 15,000,000. There of your work on inventory went Deption OF SKUS 110 Population Sample Errors found 40 1.100.000 120.000 1660 quired ing the monetary unit method, calculate the projected Inventory error, and, as it against materiality