Audit planning requires that the auditor consider possible inventory errors or frauds that might occur that could affect the financial statements.For each of the types of inventory errors listed in the following table,indicate what would be the possible effect in the inventory and cost of sales accounts: overstated,understated,or no effect. 
Definitions:
Successful Deals
Agreements or transactions that meet or exceed the objectives and expectations of all parties involved.
Legal Circumference
The boundary or scope within which legal rights, obligations, and jurisdiction are defined.
Fund Raising
The process of gathering financial contributions from individuals or organizations, often for non-profit initiatives or supporting the growth of businesses.
Shares Outstanding
The total number of shares of a corporation that have been issued and are held by shareholders, including restricted shares.
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