DC 10-1 Projected Likely Misstatement. LO6 When Marge, a PA. audited the Candle Company inventory, a random sample of inventory types was chosen for physical observation and price testing. The sample size was 80 different types of candles and candle-making inventory. The entire inventory contained 1,740 types, and the amount in the inventory control account was $ 166,090. Marge had already decided that a misstatement of as much as $6.000 in the account would not be material. The andit work revealed the following eight errors in the sample of 80. BOOK VALUE AUDIT VALUE ERROR AMOUNT $600.00 $622.00 $ 22:00 15.50 14:50 (1.00) 65.25 31.50 (33.75) 83.44 53.45 (29.99) 16.78 15.63 (1:15) 78.33 12.50 (65.83) 13.33 14.22 0.89 93.87 39.87 (54.00) $966.50 $803.67 $( 162.83) Required: Calculate the projected likely misstatement using the difference method. Discuss the decision choice of accepting or rejecting the $ 166,000 book value (recorded amount) without adjustment