Oceanview Marine Company 22-18

Results of Inventory Pricing Tests: Non-statistical

December 31, 2012

Summary of Misstatements:
Amount of Client
Recorded Amount per Amount Reason(s) Misstatement,
Boat Stock Inventory Vendor's of for if any
Number Amount Invoice Difference Difference Over (under)

0.00

0.00

0.00

0.00

0.00

Net misstatement in sample = 0.00

Calculation of Projected Misstatement:

Net misstatement in sample x Population size (in $) / Sample size (in $) = 0

Calculation of Allowance for Sampling Error:

Tolerable misstatement 50,000
less: Projected misstatement 0
equals: Allowance for sampling error 50,000

Current file 3 - tests of balances, completing the audit