Bamburgh Hardware reported cost of goods sold as follows. Bamburgh made two errors: (1) 2013 ending inventory
Question:
Bamburgh made two errors: (1) 2013 ending inventory was overstated ¬2,000, and (2) 2014 ending inventory was understated ¬6,000.
Instructions
Compute the correct cost of goods sold for each year.
Transcribed Image Text:
2014 2013 Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold € 20,000 € 30,000 150,000 170,000 175,000 205,000 35,000 30,000 €140,000 €170,000
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Related Book For
Financial Accounting IFRS
ISBN: 978-1118285909
2nd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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