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P 6 - 5 ( Algo ) Analyzing and Interpreting the Effects of Inventory Errors LO 6 - 5 The statements of earnings for Pruitt
PAlgo Analyzing and Interpreting the Effects of Inventory Errors LO
The statements of earnings for Pruitt Company summarized for a fouryear period show the following amounts in thousands of
dollars:
An audit revealed that in determining these amounts, the ending inventory for was understated by $
Required:
Revise these statements of earnings to reflect the correct amounts. Do not round intermediate calculations. Round the final
answers to the nearest dollar amount.
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