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The Ginger Company made the following two errors in counting ending inventory: 1. 2. Understated 12/31/22 inventory by $150 Overstated 12/31/23 inventory by $450
The Ginger Company made the following two errors in counting ending inventory: 1. 2. Understated 12/31/22 inventory by $150 Overstated 12/31/23 inventory by $450 Indicate the error in the following items. Show supporting computations. a. 12/31/23 Retained Earnings $ over/under b. 2024 Net Income $ over/under 2022 2023 2024 Beg. Inv. Purchases End. Inv U/S 150 O/S 450 CGS Gross Profit Net Income Ret. Earnings PLEASE SHOW PROBLEM COMPUTATIONS CHART, THANK YOU.
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd edition
9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828
