Multiple Choice
Walter Co. made the following errors in 2014: Ending inventory was overstated by $2,000.
Beginning inventory was understated by $6,000.
Purchases were overstated by $3,000.
Reported net income was $20,000. The correct 2014 net income was
A) $19,000
B) $21,000
C) $15,000
D) $ 4,000
Correct Answer:
Verified
Correct Answer:
Verified
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