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whats the answer and why? Bren Co's beginning inventory at January 1, 2005 was understated by $26,000, and its ending inventory was overstated by 552,000.
whats the answer and why? Bren Co's beginning inventory at January 1, 2005 was understated by $26,000, and its ending inventory was overstated by 552,000. As a result, Bren's cost of goods sold for 2005 was: Overstated by $26,000. Understated by $26,000 Overstated by $78,000 Understated by $78,000 Sunland Company took a physical inventory on December 31 and determined that goods costing $200,000 were on hand. Not included in the physical count were 524,840 of goods purchased from Pelzer Corporation, fo.b. shipping point, and $21.960 of goods sold to Alvarez Company for $30,630, to b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Sunland report as its December 31 inventory? December 31 inventory $
whats the answer and why?
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