Solution-Assume that the error is not discovered

Assume that the error is not discovered

Reference no: EM131008595

1. For each of the following inventory errors occurring in 2011, determine the effect of the error on 2011's cost of goods sold, net income, and retained earnings. Assume that the error is not discovered until 2012 and that a periodic inventory system is used. Ignore income taxes.

Reference no: EM131008595

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Assume that the error is not discovered

Reference no: EM131008595

Reference no: EM131008595

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