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 3 994 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 12 729 18 1,738 1,228 23 1,681 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 Amount Cumulative 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
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 3 994 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 12 729 18 1,738 1,228 23 1,681 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 Amount Cumulative 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
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...
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answer in text form please (without image), Note: .Every entry should have narration please
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
3
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
12
729
18
1,738
1,228
23
1,681
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
Amount
Cumulative
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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