-1 Accounting Part 3 Audit Working Papers (25 points) working Indicate and brief

Question

-1 Accounting Part 3 Audit Working Papers (25 points) working Indicate and briefly discuss any deficiencies in the papershon belox. List each point separately, e use bullets". Emilyanne Company Inventory Schedule Item Quantity Total Unit Cost 6.29 5.55 14.14 Cost Dinosaurs Dragons (X) 1,126 Pink Purples Robins Chickadees 555 (A) 3,490.95 6,249.30 4, 708. 62 280 , 918.4 2, 520 s 28,466.81 This analysis is to provide some information about inventory. Explanatory legend A. Observed in warehouse and then noted on inventory count sheet during physical inventory. f. Footed.

Explanation / Answer

On a glancery reading of the working paper below, it is being noticed that there is a calculation error in product Robbines. 226 units of Robbins at $ 9.29 amounts to $ 2099.54, however due to typo error it is written as $ 3099.54. Consequently total cost is also effected by the change by $ 1000.

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