Items a through l represent possible errors and fraud that you suspect may be present at rex company. the accompanying list of auditing procedures represents procedures that the auditor would consider performing to gather evidence concerning possible errors and fraud. for each item, select one or two procedures, as indicated, that the auditor most likely would perform to gather evidence in support of that item. the procedures on the list may be selected once, more than once, or not at all.

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)