Question 5 Mouse Turd Ltee reported the following compamtive incone statem ent for the years ended...

 

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Question 5 Mouse Turd Ltee reported the following compamtive incone statem ent for the years ended Septem ber 30, 2021, and2022: Mousse Turd Ltee. Income Statem ent For the Years Ended Septem ber 30 2022 2021 $194,000 $158,000 Sales revere Cost of pods sold Begirninginventory Purchases. Goods available for sale. Ending inventory Cot of goods sold. Grossproft Operating epenses. Net income. ১23,000 97,000 120,000 21,000) $ 16,000 86,000 102,000 23,000) 99,000 95,000 20,000 $75,000 79,000 79,000 20,000 359.000 Mousse's shareholders are thrilled by the company'sboost in sales and net income during 2022, Then they dscover that the 2021 endinginventorywasunderstatedby$10,000. How well did Mousse really perfom in 2022, ascomparedwith 2021? Question 5 Mouse Turd Ltee reported the following compamtive incone statem ent for the years ended Septem ber 30, 2021, and2022: Mousse Turd Ltee. Income Statem ent For the Years Ended Septem ber 30 2022 2021 $194,000 $158,000 Sales revere Cost of pods sold Begirninginventory Purchases. Goods available for sale. Ending inventory Cot of goods sold. Grossproft Operating epenses. Net income. ১23,000 97,000 120,000 21,000) $ 16,000 86,000 102,000 23,000) 99,000 95,000 20,000 $75,000 79,000 79,000 20,000 359.000 Mousse's shareholders are thrilled by the company'sboost in sales and net income during 2022, Then they dscover that the 2021 endinginventorywasunderstatedby$10,000. How well did Mousse really perfom in 2022, ascomparedwith 2021?

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1 Income Statement Due to Understate of ending inventory in 2021 Cost of ... View the full answer