Bamburgh Hardware reported cost of goods sold as follows Bamburgh made two errors (1) 2013 ending inventory was overstated not 2,000, and (2) 2014 ending inventory was understated not 6,000 Instructions Compute the correct cost of goods sold for each year 2014 2013 Beginning inventory Cost of goods...

2013 2014 Beginning inventory 20000 28000 Cost of goods purch ...

Bamburgh Hardware reported cost of goods sold as follows. Bamburgh made two errors: (1) 2013 ending inventory

Question:

Bamburgh Hardware reported cost of goods sold as follows.

2014 2013 Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods so

Bamburgh made two errors: (1) 2013 ending inventory was overstated ‚¬2,000, and (2) 2014 ending inventory was understated ‚¬6,000.

Instructions
Compute the correct cost of goods sold for each year.

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Financial Accounting IFRS

ISBN: 978-1118285909

2nd edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Jul 19, 2018 06:04 AM

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Bamburgh Hardware reported cost of goods sold as follows. Bamburgh made two errors: (1) 2013 ending inventory

Question:

2014 2013 Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold € 20,000 € 30,000 150,000 170,000 175,000 205,000 35,000 30,000 €140,000 €170,000

Step by Step Answer:

2013 2014 Beginning inventory 20000 28000 Cost of goods purch...View the full answer

Financial Accounting IFRS

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