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Projected misstatement using mean-per-unit estimation

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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

Reference no: EM131625916

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