In taking a physical inventory at the end of year 2009, Pea Company erroneously forgot to count
Question:
(a) 2009 cost of goods sold,
(b) 2009 gross profit,
(c) 2009 net income,
(d) 2010 net income,
(e) The combined two-year income,
(f) Income for years after 2010.
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a Overstates 2009 cost of goods sold b Understates 2009 gross ...View the full answer
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