An audit client has decided to determine the ending valuation of inventories by physically counting and costing
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An audit client has decided to determine the ending valuation of inventories by physically counting and costing only a sample of their total inventory. There are no perpetual records. Explain why difference estimation would not be an appropriate statistical method in these circumstances.
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In the given scenario the audit client has chosen to physically count and cost only a sample of their total inventory to determine the ending valuatio...View the full answer
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Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
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Related Book For 
Applications Of Statistical Sampling To Auditing
ISBN: 9780130391568
1st Edition
Authors: Alvin A. Arens, James K. Loebbecke
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