Sayaovang Company discovers in 2022 that its ending inventory at December 31, 2021, was $7,000 understated. What

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Sayaovang Company discovers in 2022 that its ending inventory at December 31, 2021, was $7,000 understated. What effect will this error have on

(a) 2021 net income,

(b) 2022 net income,

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Accounting Principles

ISBN: 9781119707110

14th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

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Question Posted: Jun 29, 2022 03:53 AM

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Sayaovang Company discovers in 2022 that its ending inventory at December 31, 2021, was $7,000 understated. What

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a2021 net income would be understated by 7000 For an example Beginning inve...View the full answer

Accounting Principles

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