Cohen Company discovers in 2006 that its ending inventorv at December 31,2005, was $7,000 understated. What effect
Question:
Cohen Company discovers in 2006 that its ending inventorv at December 31,2005, was $7,000 understated. What effect will this error have on
(a) 2
(b) 21X16 net income, and
(c) the combined net income for the 2 years?
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Related Book For 
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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