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Here is the original schedule of cost of goods sold for Topley Company for the years of 2019 through 2022: Click the icon to
Here is the original schedule of cost of goods sold for Topley Company for the years of 2019 through 2022: Click the icon to view the original schedule of cost of goods sold.) During the preparation of its 2022 financial statements, Topley Company discovered that its 2020 ending inventory was understated by $100. Make the correction to the 2020 ending inventory and all other numbers in the schedule of cost of goods sold for any years affected and answer these questions. Make the correction to the 2020 ending inventory and all other numbers in the schedule of cost of goods sold for any years affected. 2022 2021 2020 2019 Beginning inventory $ 450 750 700 550 + Purchases = Cost of goods available 1,450 $ 1,900 Ending inventory (600) Cost of goods sold $ 1,300
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