Question

2 Year

234
56
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
Company Sales Data
Month
2017 January
2017 February
2017 March
2017 April
2017 May
2017 June
2017 June
2017 August
2017 September
2017 October
2017 November
2017 December
2018 January
2018 February
2018 March
2018 April
2018 May
2018 June
2018 July
2018 August
2018 September
2018 October
2018 December
Unit
Sales
6,000
4,500
4,500
3,000
3,000
1,500
1,500
3,000
4,000
5,000
6,000
7,500
6,250
5,000
6,000
3,500
2,500
2,000
3,000
3,000
4,500
5,200
8,000
Average
Price
Sales
Dollars
9.99 $
12.49 $
14.99 $
16.99 $
17.99 $
14.99 $
14.99 $
17.49 $
19.99 $
19.99 $
17.49 $
14.99 $
8.49 $
E
12.99 $
12.99 $
17.49 $
16.49 $
14.99 $
10.99 $
10.99 $
19.49 $
21.49 $
13.99 $
59,940
56,205
67,455
50,970
53,970
22,485
22,485
52,470
-79,960
99,950
104,940
112,425
53,063
64,950
950
61,215
41,225
29,980
32,970
32,970
87,705
111,748
111,920

What needs to be audited?

Answer 1

Auditing company sales data involves verifying the accuracy of unit sales, average price, and sales dollars, as well as ensuring correct revenue calculations and noting annual fluctuations that may indicate errors or issues.

Step-by-step explanation:

When auditing company sales data, it is crucial to verify the accuracy of various elements such as unit sales, average price, and sales dollars reported for each month. These records should be cross-checked with source documents like invoices and receipts. Additionally, ensuring that calculations for monthly revenue (unit sales multiplied by the average price) are accurate is essential. It is also important to note any discrepancies in the annual growth rates or fluctuations that may point to data entry errors or other issues that require further investigation. The audit process should also consider the context, such as market trends and events that may have impacted sales, to understand the figures better.