You have been assigned the task of testing the accuracy of

Reference no: EM13581658

You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume that you have separately observed the inventory and that you are satisfied that the inventory was accurately counted. However, you need to test that quantities were accurately transcribed to the final accumulation and valuation of inventory and that the inventory is correctly priced and accumulated. The table beginning on page 617 presents the audited values associated with Mt. Hood's pricing and accumulation of all items in inventory.
$6,753,764 is the Book Value you will need

Required Portion:
6. Determine the amount of projected population misstatement based on your sample.
7. Considering your quantitative and qualitative results, develop a statistical conclusion
and an audit conclusion based on your sample.

Reference no: EM13581658

Questions Cloud

Smart hardware purchased new shelving for its store on : smart hardware purchased new shelving for its store on april 1 2011. the shelving is expected to have a 20-year life

The following information pertains to tanzi company assume : the following information pertains to tanzi company. assume that all balance sheet amounts represent both average and

How has internet played a role in expanding international : how has internet played a role in expanding international operations and what affect has it had on jobs in this

Describes the audit risk model and its various components : describes the audit risk model and its various components. please select a financial statement account in your industry

You have been assigned the task of testing the accuracy of : you have been assigned the task of testing the accuracy of the final inventory compilation for mt. hood furniture. you

Kansas company uses a standard cost accounting system in : kansas company uses a standard cost accounting system. in 2014 the company produced 28000 units. each unit took several

Wiffery company had the following trading securities in its : wiffery company had the following trading securities in its portfolio at december 31. the fair value adjustment -

Paco corporation has 16000000 of 95 percent 25-year bonds : 1. paco corporation has 16000000 of 9.5 percent 25-year bonds dated march 1 with interest payable on march 1

Baxter corp currently makes 10000 subcomponents a year in : baxter corp currently makes 10000 subcomponents a year in one of its factories. the unit costs to produce are an

User Account

All Pages