Salvage Company reported the following net income amounts:
In 2017,the company discovered errors that been made in computing the ending inventories for 2014 and 2015,as follows:
Compute the correct net incomes for (1)2014, (2)2015,and (3)2016.

Question

Salvage Company reported the following net income amounts:
  In 2017,the company discovered errors that been made in computing the ending inventories for 2014 and 2015,as follows:
  Compute the correct net incomes for (1)2014, (2)2015,and (3)2016.

Quizplus · Accepted Answer

The Answer of Salvage Company reported the following net income amounts:
  In 2017,the company discovered errors that been made in computing the ending inventories for 2014 and 2015,as follows:
  Compute the correct net incomes for (1)2014, (2)2015,and (3)2016.

Salvage Company Reported the Following Net Income Amounts