Question
If the foregoing figures are verified and a count of the ending inventory reveals that merchandise actually on hand amounts to $100,000 at retail, the
If the foregoing figures are verified and a count of the ending inventory reveals that merchandise actually on hand amounts to $100,000 at retail, the business has
A. Sustained an unrecognized gain B. None of these answer choices is correct C. No gain or loss as there is close coincidence of the inventories D. Realized a windfall gain
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
9th Edition
978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062
