Moore Company reported net income of $60,000 in 2013 and $80,000 in 2014. However, ending inventory was overstated by $8,000 in 2013.
Instructions
Compute the correct net income for Moore Company for 2013 and 2014.

Question

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The Answer of Moore Company reported net income of $60,000 in 2013 and $80,000 in 2014. However, ending inventory was overstated by $8,000 in 2013.
Instructions
Compute the correct net income for Moore Company for 2013 and 2014.

Moore Company Reported Net Income of $60,000 in 2013 and $80,000