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Wilmington Company reported pretax income of $25,000 during 2021 and $30,000 during 2022. Later it was discovered that the ending inventory for 2021 was
Wilmington Company reported pretax income of $25,000 during 2021 and $30,000 during 2022. Later it was discovered that the ending inventory for 2021 was understated by $2,000 (and not corrected in 2021). What is the correct pretax income for each year? 2021 2022 A. $23,000 $32,000 B. $27,000 $32,000 C. $27,000 $28,000 D. $23,000 $28,000
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
15th Edition
978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960
