es You have been assigned to select an MUS sample from Whitney Company's detailed inventory records as of September 30. Whitney's controller gave you a list of the 23 different inventory items and their recorded book amounts. The senior accountant told you to select a sample of 10 dollar units and the inventory items that contain them. ID 1 Amount $1,750 ID Amount ID Amount ID Amount 7 $1,255 13 $ 937 19 $2,577 2 1,492 8 3,761 14 5,938 20 1,126 994 9 1,956 15 2,001 21 565 629 10 1,393 16 222 22 2,319 5 6 2,272 1,163 11 884 17 1,738 23 1,681 12 729 18 1,228 Required: Prepare audit documentation showing a systematic selection of 10 dollar units and the related logical units. Arrange the items in their numerical identification number order and use a random starting point at the 1,210th dollar. ID Recorded Cumulative Amount Amount Dollar Selected Selected Logical Unit 1 $ 1,750 1,210 2 1,492 3 994 4 629 5 2,272 6 1,163 7 1,255 8 3,761 9 1,956 10 1,393 11 884 12 729 13 937 14 5,938 15 2,001 16 222 17 1,738 18 1,228

Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 5PA
Question
None
es
You have been assigned to select an MUS sample from Whitney Company's detailed inventory records as of September 30. Whitney's
controller gave you a list of the 23 different inventory items and their recorded book amounts. The senior accountant told you to select
a sample of 10 dollar units and the inventory items that contain them.
ID
1
Amount
$1,750
ID
Amount
ID
Amount
ID
Amount
7
$1,255
13
$ 937
19
$2,577
2
1,492
8
3,761
14
5,938
20
1,126
994
9
1,956
15
2,001
21
565
629
10
1,393
16
222
22
2,319
5
6
2,272
1,163
11
884
17
1,738
23
1,681
12
729
18
1,228
Required:
Prepare audit documentation showing a systematic selection of 10 dollar units and the related logical units. Arrange the items in their
numerical identification number order and use a random starting point at the 1,210th dollar.
ID
Recorded Cumulative
Amount
Amount
Dollar
Selected
Selected
Logical Unit
1
$ 1,750
1,210
2
1,492
3
994
4
629
5
2,272
6
1,163
7
1,255
8
3,761
9
1,956
10
1,393
11
884
12
729
13
937
14
5,938
15
2,001
16
222
17
1,738
18
1,228
Transcribed Image Text:es You have been assigned to select an MUS sample from Whitney Company's detailed inventory records as of September 30. Whitney's controller gave you a list of the 23 different inventory items and their recorded book amounts. The senior accountant told you to select a sample of 10 dollar units and the inventory items that contain them. ID 1 Amount $1,750 ID Amount ID Amount ID Amount 7 $1,255 13 $ 937 19 $2,577 2 1,492 8 3,761 14 5,938 20 1,126 994 9 1,956 15 2,001 21 565 629 10 1,393 16 222 22 2,319 5 6 2,272 1,163 11 884 17 1,738 23 1,681 12 729 18 1,228 Required: Prepare audit documentation showing a systematic selection of 10 dollar units and the related logical units. Arrange the items in their numerical identification number order and use a random starting point at the 1,210th dollar. ID Recorded Cumulative Amount Amount Dollar Selected Selected Logical Unit 1 $ 1,750 1,210 2 1,492 3 994 4 629 5 2,272 6 1,163 7 1,255 8 3,761 9 1,956 10 1,393 11 884 12 729 13 937 14 5,938 15 2,001 16 222 17 1,738 18 1,228
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