a. Describe the audit problem indicated by this scenario. b. List audit procedures that could be used to audit the allowance for sales returns.

Q: Correct inventory $

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A: Note: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…

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Q: am. 110.

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A: Prepare a schedule to determine the correct inventory amount as shown below:

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A: Following is the answer to the given question

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A: For August 3 : Inventory = 33400 * 98% = 32732 For August 13 : Cash = 32732 - 2450 = 30282

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Q: Dineshbhai

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