Green CPA audited the inventory of ABC Company on a sample basis. Green audited a sample of
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Question:
- Green CPA audited the inventory of ABC Company on a sample basis. Green audited a sample of 120 items and found a net overstatement of $600. The audited sample had a recorded value of $12,000. The entire inventory contained 2,400 items with a total book value of $280,000.
- Calculate the overstatement using the average difference method.
Related Book For
Auditing An International Approach
ISBN: 978-1259087462
7th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
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