EP AUDITING+ASSURANCE...-MYACCT.LAB
EP AUDITING+ASSURANCE...-MYACCT.LAB
16th Edition
ISBN: 9780134148656
Author: ARENS
Publisher: PEARSON CO
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Chapter 8, Problem 36DQP

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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Hamilton Textiles has the following data: • Beginning raw materials inventory = $90,000 Materials purchased = $55,000 Ending raw materials inventory = $75,000 Calculate the cost of raw materials used.
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