WendyEller2-TextbookExercises-Unit8

WendyEller2-TextbookExercises-Unit8 - 9000 Current Assets...

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PE 7.3A a.   Cost of Merchandise Sold  = $760  b. Inventory =  15 and  $72.00 PE 7.4A a. FIFO Method = $720  b. LIFO Method = $540  c. Average Cost Method = $645  PE 7.6A Show accounts and amount of overstatement (understatement) Balance Sheet 9000 Merchandise Inventory Overstated
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Unformatted text preview: 9000 Current Assets Overstated 9000 Total Assets Overstated 9000 Owner's Equity Overstated 9000 Income Statement Cost of Merchandise Sold Understated-9000 Gross Profit Overstated 9000 Net Income Overstated 9000...
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This note was uploaded on 12/08/2009 for the course AC114 AC114 taught by Professor Duchac during the Fall '09 term at Kaplan University.

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