Kingston Company reported the following net income amounts:

In 2012, the company discovered errors that been made in computing the ending inventories for 2009 and 2010, as follows:

Compute the correct net incomes for (1) 2009, (2) 2010, and (3) 2011.

Question

Kingston Company reported the following net income amounts:
  
In 2012, the company discovered errors that been made in computing the ending inventories for 2009 and 2010, as follows:
  
Compute the correct net incomes for (1) 2009, (2) 2010, and (3) 2011.

Quizplus · Accepted Answer

The Answer of Kingston Company reported the following net income amounts:
  
In 2012, the company discovered errors that been made in computing the ending inventories for 2009 and 2010, as follows:
  
Compute the correct net incomes for (1) 2009, (2) 2010, and (3) 2011.

Kingston Company Reported the Following Net Income Amounts