How much would this error impact the cost of goods sold

Assignment Help Financial Accounting

Reference no: EM133433562

Question: Lime Supplies had a miscount of inventory at $22,000 for the year end May 31, 2022. The correct amount should have been $25,000. If this error was never corrected, and assuming the inventory count was correct for 2023, how much would this error impact the cost of goods sold in 2022?

Reference no: EM133433562

Questions Cloud

Create hypothetical sports setting scenario about an injury : Create a hypothetical sports setting scenario about an injury that results in a negligence lawsuit. Make an argument for the plaintiff in your scenario based

Discuss the pros and cons of medicare for all : What Medicare for All, as presented by Bernie Sanders, would look like? (Sen. Sanders is being picked solely for simplifying the assignment, not because

What qualifies the organization as a credible source : Authority: is the organization's identity and purpose clear? Is contact information available on this website? What qualifies the organization as a credible

Determine an incremental per share effect for the class a : No dividends were declared or paid this year. Blossom's tax rate is 38%. Determine an incremental per share effect for the class A preferred shares

How much would this error impact the cost of goods sold : If this error was never corrected, and assuming the inventory count was correct for 2023, how much would this error impact the cost of goods sold in 2022

Why are the characteristics of god so important : How to respond to a comment below to your classmate in a few words and two questions to keep the discussion on: The three characteristics are omnipresent

How specific elements in your new system will improve : how the three management tiers (managers, vice presidents, CEO) interact with one another relative to performance measurement and pay.

Explain project communications management : Identify and explain in good detail 7 Project Communications Management and Interpersonal skills that can be used for a group communications management.

Impact goodwill impairment calculations : Based on current economic conditions do you see anything specific that would impact goodwill impairment calculations

User Account

All Pages