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puteri [66]
3 years ago
12

Blue Enterprises reported cost of goods sold for 2020 of $1,307,500 and retained earnings of $5,383,000 at December 31, 2020. Bl

ue later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $118,630 and $36,930, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings.
Business
1 answer:
Sphinxa [80]3 years ago
4 0

Answer: See explanation

Explanation:

Based on the information given in the question, the corrected amounts for 2020 cost of goods sold would be:

= $1307500 + $36930 - $118630

= $1225800

The corrected Retained earnings would be:

= $5,383,000 - $36,930

= $5,346,070

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Answer:

d. -$4,300.00

Explanation:

Calculation for What is your current profit or loss on this investment

Using this formula

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3 years ago
How to get a workers permit at 14 If you drop out of school in Pennsylvania
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3 years ago
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It can be deduced that the number of blankets that must be sold in order for the company to achieve the target profit is 40000.

<h3>How to calculate the target profit</h3>

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