Q4-iv. Calculate the Audited Value using the Ration & Difference Estimation Methods - Look to the "Case Facts" Tab & Q4-i above for information you need for the formulas. -Formulas are included below (scroll down) for convenience. - Number of sampled items is listed aboce in Q4i -Number of items in the population is listed in the "Case Facts" tab. Show all work below. FILL IN THE BOXES HIGHLIGHTED YELLOW WITH YOUR ANSWER.
								ANSWER:	Use the tables below to calculate.
								Ratio Method	Strata	Bases of Strata	Recorded Balance (rounded) [Book Value]	Audited amount (based on extrapolation of confirmation results) [Audit Value]	Difference
									1	Representative Homogeneous Population	$819,000		$819,000
2	High Dollar Value Items	$300,000		$300,000
TOTAL	FULL POPULATION	$1,119,000	$0	$1,119,000
Difference Estimation Method	Strata	Bases of Strata	Recorded Balance (rounded) [Book Value]	Audited amount (based on extrapolation of confirmation results) [Audit Value]	Difference
	1	Representative Homogeneous Population	$819,000		$819,000
	2	High Dollar Value Items	$300,000		$300,000
	TOTAL	FULL POPULATION	$1,119,000	$0	$1,119,000
Q4-v. Assume that the following final results of the Sample (See table below), determine whether (a)there is a material misstatement, or (b) whether the sample passes; & Explain why briefly (1-2 sentences): [Assume Materiality is the same as that per the case facts]
								ANSWER:	(EX: (a)there is a material misstatement - because XXX.)