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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778 Exercise 15
Inventory Error
Pixy, Inc., overlooked $125,000 of inventory at the end of the current year because it was stored temporarily in a warehouse owned by another company. Before discovering this error, the company's income statement showed the following:
Restate these figures to reflect the inclusion of the overlooked inventory.
Pixy, Inc., overlooked $125,000 of inventory at the end of the current year because it was stored temporarily in a warehouse owned by another company. Before discovering this error, the company's income statement showed the following:
Restate these figures to reflect the inclusion of the overlooked inventory.
Explanation
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Verified
The company failed to report the invento...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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