Question: Aruba Inc. reported the following partial income statement data for the years ended December 31, 2015 and 2014: Merchandise inventory was reported in the current

Aruba Inc. reported the following partial income statement data for the years ended December 31, 2015 and 2014: Merchandise inventory was reported in the current financial position at $44, 080, $53, 280, and $51, 640 at the end of 2013, 2014, and 2015, respectively. The ending inventory amounts for 2013 and 2015 are correct. However, the ending inventory at December 31, 2014, is understated by $10, 690. Prepare correct income statements for 2014 and 201S through to gross profit
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