Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello

تمرين 35

Due to ineffective controls while counting its inventory, Walker Comer, Inc., double-counted $50,000 of inventory at the end of the current year. Before discovering this error, the company's ending inventory was $670,000. How will correction of this error affect the company's inventory and cost of goods sold figures?