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a. Obtain and print statistical information for both Inventory Value at Cost and Market Value. Determine how many inventory items have positive, negative, and zero values for both Inventory Value at Cost and Market Values. (Statistics)
b. Use Quick Sort Ascending and Descending for both Inventory Value at Cost and Market Value. (Quick Sort) Use this information and the information from part a to identify any concerns you have in the audit of inventory.
c. Calculate the ratio of Inventory Value at Cost to Market Value and sort the result from low to high. (Computed Fields and Quick Sort) Identify concerns about inventory valuation, if any.
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Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
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