Question

During its 2017 year-end inventory count, Lamaline Ltd. included inventory it had received on consignment from a supplier. Lamaline uses a periodic inventory control system. Explain the impact of this error on the following:
a. 2017 ending inventory
b. 2017 cost of goods sold
c. 2017 gross margin
d. 2017 net income



$1.99
Sales0
Views68
Comments0
  • CreatedFebruary 26, 2015
  • Files Included
Post your question
5000