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hi, I need help with Accounting Roesel Fashions completed a physical inventory at the end of 2013. A review of the physical inventory procedures and
hi, I need help with Accounting
Roesel Fashions completed a physical inventory at the end of 2013. A review of the physical inventory procedures and records uncovered several errors that are described below. In the columns provided, indicate the effect, if any, on the four financial statement items listed. Use the following codes for your answers: 0 = 0verstatement; U-Understatement; NE No Effect Error Ending Inventory Cost of Goods Net Income Retained Earnings Sold A)One batch of goods was Select'] B) One page of items was | Select C) Goods sold FOB shipping Select I Select Select Select counted twice 1 l so. Select select Select misplaced when the inventory was calculated Select Select Select ed in point were Roesel's inventory D) Goods in transit from a Select Select Select Select supplier, shipped FOB shipping point, were not included in Roesel's nventory
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