The annual reported income for Salazar Company for the years 2000-2003 is shown here. However, a review

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The annual reported income for Salazar Company for the years 2000-2003 is shown here. However, a review of the inventory records reveals inventory misstatements. 2000 2001 2002 2003 AX) OV UeLel [VEL WOON noon nunonanannnbonn. $30,000 $40,000 $35,000 $45,000 Inventory overstatement, end of year........ 3,000 ‘ 2,000 Inventory understatement, end of year....... 4,000 1,000 Using the data provided, calculate the correct net income for each year.

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Financial Accounting

ISBN: 9780324066708

8th Edition

Authors: W. Steven Albrecht, James D. Stice, Earl Kay Stice, K. Fred Skousen, Albrecht S.E.

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