Question
Antique Carpets' books show the following data. (Click the icon to view the income statements.) In early 2026, auditors found that the ending merchandise inventory
Antique Carpets' books show the following data.
(Click the icon to view the income statements.)
In early 2026, auditors found that the ending merchandise inventory for 2023 was understated by $8,000 and that the ending merchandise inventory for 2025 was overstated by $9,000. The ending merchandise inventory at December 31, 2024, was correct.
Read the requirements.
Antique
Carpets' books show the following data.
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(Click the icon to view the income statements.)
In early
2026,
auditors found that the ending merchandise inventory for
2023
was understated by
$8,000
and that the ending merchandise inventory for
2025
was overstated by
$9,000.
The ending merchandise inventory at December 31,
2024,
was correct.
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Using QuickBooks Accountant 2018 For Accounting
Authors: Glenn Owen
16th Edition
0357042085, 9780357042083
