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STATISTICAL CALCULATIONS -
INVENTORY
SAMPLE ITEM VALUES:
Misstatement
Item Audit Book Misstatement Amount
No. Value Value Amount Squared
1 812.50 740.50 -72.00 5184.00
2 12.50 78.20 65.70 4316.49
3 10.00 51.10 41.10 1689.21
4 25.40 61.50 36.10 1303.21
5 600.10 651.90 51.80 2683.24
6 0.12 0.00 -0.12 0.01
7 51.06 81.06 30.00 900.00
8 83.11 104.22 21.11 445.63
1594.79 1768.48 173.69 16521.80
Population size = 1840
Sample size = 80
Total book value = 175820.00
Maximum allowable misstatement = 6000.00
Factor for ARIA of 5% = 1.64
COMPUTATIONS:
Point estimate 3994.87
Standard deviation 14.30
Computed precision interval 4717.00
Confidence limits -722.13 to 8711.87
