INVENTORY ERRORS
McLelland Inc. reported net income of $150,000 for 2009 and $165,000 for 2010. Early in 2010, McLelland discovers that the December 31, 2009 ending inventory was overstated by $8,000. For simplicity, ignore taxes.
INVENTORY ERRORS
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INVENTORY ERRORS
McLelland Inc. reported net income of $150,000 for 2009 and $165,000 for 2010. Early in 2010, McLelland discovers that the December 31, 2009 ending inventory was overstated by $8,000. For simplicity, ignore taxes.
INVENTORY ERRORS