Question: CTI prices its inventory at FIFO. You select a random sample of 35 items for price testing and find the following results as of year-end

CTI prices its inventory at FIFO. You select a random sample of 35 items for price testing and find the following results as of year-end 2025. The total book value of inventory is $1,027,000. You should assume that errors exist in the unsampled portion of the population in the same proportion as in the sample

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