Moore Company reported net income of $60,000 in 2010 and $80,000 in 2011. However, ending inventory was overstated by $5,000 in 2010.
Instructions
Compute the correct net income for Moore Company for 2010 and 2011.

Question

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The Answer of Moore Company reported net income of $60,000 in 2010 and $80,000 in 2011. However, ending inventory was overstated by $5,000 in 2010.
Instructions
Compute the correct net income for Moore Company for 2010 and 2011.

Moore Company Reported Net Income of $60,000 in 2010 and $80,000