(Appendices) ERRORS IN ENDING INVENTORY. From time to time, business newspapers report that the management of a company has misstated its profits by knowingly establishing
(Appendices) ERRORS IN ENDING INVENTORY. From time to time, business newspapers report that the management of a company has misstated its profits by knowingly establishing an incorrect amount for its periodic-system ending inventory.LO6 REQUIRED:
1. Explain how a misstatement of ending inventory can affect profit.
2. Why would a manager intent on misstating profits choose ending inventory to achieve the desired effect?
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Authors: Dan O'Hair, Mary Wiemann, Dorothy Imrich Mullin
3rd Edition
1457662922, 978-1457662928
