Question

Hudson River Trucks reported sales revenue of $157,000 and cost of goods sold of $90,000.

Requirements
1. Compute Hudson River Trucks’ correct gross profit assuming the company’s ending inventory is overstated by $1,700. Show your work.
2. Compute Hudson River Trucks’ correct gross profit assuming the company’s ending inventory is understated by $2,600. Show your work.



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  • CreatedApril 29, 2014
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