Sean Company’s beginning inventory at January 1, 2004 was understated by P45,500,and its ending inventory was overstated by P91,000. As a result, Sean Company’s cost ofgoods sold for 2004 was: Choices; Understated by P45,500 Overstated by P45,500 Understated by P136,500 Overstated by P136,500
Sean Company’s beginning inventory at January 1, 2004 was understated by P45,500,and its ending inventory was overstated by P91,000. As a result, Sean Company’s cost ofgoods sold for 2004 was: Choices; Understated by P45,500 Overstated by P45,500 Understated by P136,500 Overstated by P136,500
Chapter10: Inventory
Section: Chapter Questions
Problem 14EA: If Wakowski Companys ending inventory was actually $86,000 but was adjusted at year end to a balance...
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Sean Company’s beginning inventory at January 1, 2004 was understated by P45,500,and its ending inventory was overstated by P91,000. As a result, Sean Company’s cost ofgoods sold for 2004 was:
Choices;
Understated by P45,500
Overstated by P45,500
Understated by P136,500
Overstated by P136,500
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