E6-11 - E6-11 Your answer is correct Lebo Hardware reported...

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Unformatted text preview: E6-11 Your answer is correct. Lebo Hardware reported the cost of goods sold as follows: 2008 2009 Beginning Inventory $20,000 $30,000 Cost of goods purchased 150,000 175,000 Cost of goods available for sale 170,000 205,000 Ending inventory 30,000 35,000 Cost of goods sold $140,000 $170,000 Lebo made two errors: (1) 2008 ending inventory was overstated by $3,000 and (2) 2009 ending inventory was understated $6,000. Instructions Compute the correct cost of goods sold for each year. Cost of goods sold 2008 $ 143000 2009 $ 161000 ...
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This note was uploaded on 07/31/2011 for the course ACCT 557 taught by Professor Kahn during the Spring '10 term at Strayer.

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E6-11 - E6-11 Your answer is correct Lebo Hardware reported...

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