Question
Rightcore Inc. reported cost of goods sold as follows : 2018 2019 Beginning inventory $ 54,000 $ 64,000 Cost of goods purchased 847,000 891,000 Cost
Rightcore Inc. reported cost of goods sold as follows :
John Carrington, the bookkeeper, made two errors:
Instructions Assuming the errors had not been corrected, indicate the dollar effect that the errors had on the items appearing on the financial statements listed below. Also indicate if the amounts are overstated (O) or understated (U).
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