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 the ending inventory was understated by $500 at the end of 20x4.

The Only Errors BGC Made Were in the Valuation of Ending