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Alice rathermel audited loho companys inventory using

Question: Alice Rathermel audited LoHo Company's inventory using sampling. She examined 120 items from an inventory compilation list and discovered net overstatement of $480. The audited items had a book (recorded) value of $48,000. There were 1,200 inventory items listed, and the total recorded inventory amount was $490,000. What is the projected misstatement using mean-per-unit estimation?

a. $480

b. $576,000

c. $10,000

d. $480,000

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Accounting Basics: Alice rathermel audited loho companys inventory using

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