The only errors BGC made were in the valuation of ending inventory amounts.As a result, in 20x3, cost of goods sold was overstated by $1,000.In 20x4, cost of goods sold was understated by $500.What ending inventory error was made at the end of 20x4?

Question

Quizplus · Accepted Answer

The understatement of cost of goods sold in 20x4 by $500 indicates that ending inventory was understated by the same amount.

The Only Errors BGC Made Were in the Valuation of Ending