Indicate the estimation of the total misstatement in inventory.

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Answer 1

Question

Chapter 8, Problem 34DQP

a.

To determine

Indicate the estimation of the total misstatement in inventory.

b.

To determine

Describe whether the overall financial statements are acceptable, and explain the reason behind it.

c.

To determine

Describe the way in which the auditor should react for the given circumstances.

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Answer 2

Question

Chapter 8, Problem 34DQP

a.

To determine

Indicate the estimation of the total misstatement in inventory.

b.

To determine

Describe whether the overall financial statements are acceptable, and explain the reason behind it.

c.

To determine

Describe the way in which the auditor should react for the given circumstances.

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Answer 3

Question

Chapter 8, Problem 34DQP

a.

To determine

Indicate the estimation of the total misstatement in inventory.

b.

To determine

Describe whether the overall financial statements are acceptable, and explain the reason behind it.

c.

To determine

Describe the way in which the auditor should react for the given circumstances.

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Answer 4

Question

Chapter 8, Problem 34DQP

a.

To determine

Indicate the estimation of the total misstatement in inventory.

b.

To determine

Describe whether the overall financial statements are acceptable, and explain the reason behind it.

c.

To determine

Describe the way in which the auditor should react for the given circumstances.

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Answer 5

Chapter 8, Problem 34DQP

a.

To determine

Indicate the estimation of the total misstatement in inventory.

b.

To determine

Describe whether the overall financial statements are acceptable, and explain the reason behind it.

c.

To determine

Describe the way in which the auditor should react for the given circumstances.

Answer 6

Chapter 8, Problem 34DQP

a.

To determine

Indicate the estimation of the total misstatement in inventory.

Answer 7

Chapter 8, Problem 34DQP

a.

To determine

Indicate the estimation of the total misstatement in inventory.

Answer 8

b.

To determine

Describe whether the overall financial statements are acceptable, and explain the reason behind it.

Answer 9

b.

To determine

Describe whether the overall financial statements are acceptable, and explain the reason behind it.

Answer 10

c.

To determine

Describe the way in which the auditor should react for the given circumstances.

Answer 11

c.

To determine

Describe the way in which the auditor should react for the given circumstances.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 8 - Prob. 1RQ Ch. 8 - Prob. 2RQ Ch. 8 - Prob. 3RQ Ch. 8 - Prob. 4RQ Ch. 8 - Prob. 5RQ Ch. 8 - Prob. 7RQ Ch. 8 - Prob. 8RQ Ch. 8 - Prob. 9RQ Ch. 8 - Prob. 10RQ Ch. 8 - Prob. 11RQ

Indicate the estimation of the total misstatement in inventory.

Solution Summary: The author explains the estimation of the total misstatement in inventory, and the reason behind it. The auditor should either perform more testing or propose an audit adjustment.

Concept explainers

Indicate the estimation of the total misstatement in inventory.

Describe whether the overall financial statements are acceptable, and explain the reason behind it.

Describe the way in which the auditor should react for the given circumstances.

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Chapter 8 Solutions