Requirements Assume that the ending merchandise inventory was accidentally overstated by $1,800. What are the correct amounts for cost of goods sold and gross profit? How would the inventory error affect AZ Pool Supplies's cost of goods sold and gross profit for the year ended December 31, 2018, if the error is not corrected in 2017? 1. 2.

Requirements Assume that the ending merchandise inventory was accidentally overstated by $1,800. What are the correct amounts for cost of goods sold and gross profit? How would the inventory error affect AZ Pool Supplies's cost of goods sold and gross profit for the year ended December 31, 2018, if the error is not corrected in 2017? 1. 2.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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27. Subject :- Accounting
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