Answer:
Income +/- inventory adjustment
2015: 138,000 - 23,000 = 115,000
2016: 254,000 + 61,000 = 315,000
2017: 168,000 + 17,000 = 185,000
Explanation:
<u>Inventory Identity:</u>
Beginning + Purchases = Ending + COGS
As the mistake is on the right side it compensates by the other component which is COGS
<u><em>When the inventory is overstated</em></u> this means COGS is understated.
We didn't record the cost of good sold thefore our gross profit is higher making the net income higher.
<u><em>When the inventory is understated</em></u> this means COGS is overstated.
We record more cost of goods sold thefore our gross profit is lower making the net income fewer as well.
Hello <span>Wahsorad4380 </span>
Question: The bretton woods agreement incorporated all of these features except ________.<span>
Answer: floating exchange rates
Hope This Helps!
<u>-Chris</u></span>
Answer:
Shill bidding
Explanation:
Shill bidding occurs when a seller takes on various digital identities by opening up several email accounts and bids on his or her own items multiple times to prompt genuine bidders to provide a much higher bid for an item than they would have done otherwise
Answer:
Manufacturing-related production costs are initially recorded as expenses
Explanation:
Cost is defined as an amount that has to be paid or spent to buy or obtain something. Cost can be specific, like, "What is the cost of a particular product?" or it can be a penalty, like consider the cost of missing the event.
Expenses sounds similar to that of cost: an amount of money that must be spent especially regularly ro pay for something.
Manufacturing cost are considered to as those that are spent to transform materials into finished goods. Manufacturing costs include direct materials, direct labor, and factory overhead.
Manufacturing cost are also known as factory cost or production cost
