Cake Mart understated its ending inventory in the current year by $5,000. The company incorrectly reported a
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Question:
Cake Mart understated its ending inventory in the current year by $5,000. The company incorrectly reported a net income of $100,000.
Determine the effect of the error on the financial statement.
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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