Question: Current Attempt in Progress Oriole, Inc. has had some turnover in its parts inventory area. As a result, some inventory counting errors have been made
Current Attempt in Progress
Oriole, Inc. has had some turnover in its parts inventory area. As a result, some inventory counting errors have been made in taking the physical ending inventory in the last two fiscal years. Its financial statements for the years and contained errors as follows:
tabletableFiscal Fiscal Ending inventory,$ understated,$ overstated
Oriole has a fiscal yearend. Assume that no correcting entries were made and that no additional errors occurred in fiscal lgnoring income taxes, by how much will working capital be overstated or understated at
$ understated
$ understated
$ overstated
$ overstated
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