The Weston Company performed a physical inventory count at the end of 2014. It was later determined

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The Weston Company performed a physical inventory count at the end of 2014. It was later determined that certain units were counted twice. Explain how this error affects the following:
a. 2014 cost of goods sold
b. 2014 gross profit
c. 2014 net income
d. 2015 net income
e. The combined two-year income
f. Income in years after 2015.
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Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

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