An auditor uses nonstatistical ratio estimation to evaluate the results of a sample

Accounting Sep 18, 2020

An auditor uses nonstatistical ratio estimation to evaluate the results of a sample. The population book value was $2,000,000 and contained 350 items. The auditor selected 100 items with a book value of $500,000. The audited value of the sample was $480,000. The estimated audited value of the population is:

$1,980,000.

$1,930,000.

$1,920,000.

$1,900,000.