2. Listed below is information regarding the audit of cash and inventory Account Performance Total...
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2. Listed below is information regarding the audit of cash and inventory Account Performance Total Balance Total SampledOverstatements Found Du (Examined. $150,000 Audit (Examination) ofAccount Materiality of Accou 150,000 S1,000,000 2,250 $3,000 $4,000$ Cash Inventory $200,000 a. What is the known misstatement and direct projection for cash and inventory (must show both amounts for each account)? Assuming that sampling error is calculated as 30%of the direct projection, can the auditor conclude that both accounts are fairly stated in all material respects? Show your work to explain your
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