Black and Blue, Inc., overlooked $100,000 of inventory at the end of the current year because it
Question:
Sales . . . . . . . . . . . . . . . . . . . . . . $990,000
Cost of goods sold . . . . . . . . . . (560,000)
Gross profit . . . . . . . . . . . . . . . $430,000
Restate these figures to reflect the inclusion of the overlooked inventory.
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Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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