Question
The correct net income for Sarah Corp. was $53,500. The company reported incorrect net income because beginning inventory was understated by $2,500, purchases were overstated
The correct net income for Sarah Corp. was $53,500. The company reported incorrect net income because beginning inventory was understated by $2,500, purchases were overstated by $2,000, and ending inventory was overstated by $2,000. What net income did Sarah Corp. report?
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Practical Auditing
Authors: Ernest Evan Spicer, Ernest Charles Pegler
17th Edition
0406678014, 9780406678010
