Question

Motion Auto reported sales revenue of $138,000 and cost of goods sold of $76,000.
Requirements
1. Compute Motion Auto’s correct gross profit assuming the company’s ending inventory is overstated by $1,300. Show your work.
2. Compute Motion Auto’s correct gross profit assuming the company’s ending inventory is understated by $2,700. Show your work.


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  • CreatedJuly 08, 2015
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