Question: In the current year, a company discovered errors in previously reported nancial statements that overstated ending inventory on December 31 of the prior year by

In the current year, a company discovered errors in previously reported nancial statements that overstated ending inventory on December 31 of the prior year by $14,000, and overstated ending inventory on December 31 of two years prior by $21,000. Prepare the correcting entry required on January 1 of the current year, ignoring income taxes.
In the current year, a company discovered errors in previously reported

nancial statements that overstated ending inventory on December 31 of the prior

in the current year, a company discovered errors in previously reported financial statements that overstated eng overstated ending inventory on December 31 of two years prior by $21,000. Prepare the correcting entry require Reporting an Inventory Error In the current year, a company discovered errors in previously reported finane overstated ending inventory on December 31 of two years prior by $21,000. Pr

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