If an error in counting ending inventory in one year will have the reverse effect in the

Question:

If an error in counting ending inventory in one year will have the reverse effect in the following year, will this error need to be corrected when it is discovered? Explain.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...