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How will your error affect your financial statements ?

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Reference no: EM13851511

Your question this week involves analyzing a calculation which you will find on page 244 of Chapter 5 in your text. (bottom half of the page by the way).

Look at your Cost of Goods Sold calculation and explain it. That is, tell us what the calculation is and then explain why the various items must be added or subtracted from the beginning amount to correctly calculate the ending amount. If your calculation is wrong, how will your error affect your financial statements?


Attachment:- Financial_Accounting_6e_Ch05.pdf

Reference no: EM13851511

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