Question
Gamma Retailers Gamma Retailers is suspected of inventory manipulation. The inventory account shows $2,000,000. Physical inventory count indicates $1,800,000. $150,000 worth of inventory was damaged
Gamma Retailers
•Gamma Retailers is suspected of inventory manipulation.
•The inventory account shows $2,000,000.
•Physical inventory count indicates $1,800,000.
•$150,000 worth of inventory was damaged and not written off.
•$50,000 in inventory was stolen.
Requirement: Determine the correct inventory value and describe the types of inventory manipulation found.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
