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University Of New South Wales Operations And Supply Chain Management Assignment Help -

Question - A company discovered in 2012 that it had overstated the inventory balance for Dec 31, 2010 by $10,000. The company had (incorrectly) reported Net Income to be $300,000 for 2010, and $400,000 for 2011. What should be the corrected Net Incomes for 2010 and 2011? Answer A. Corrected 2010 Net Income Corrected 2011 Net Income $290,000 $410,000 B. Corrected 2010 Net Income Corrected 2011 Net Income $310,000 $390,000 C. Corrected 2010 Net Income Corrected 2011 Net Income $290,000 $390,000 D. Corrected 2010 Net Income Corrected 2011 Net Income $310,000 $410,000 1 points Question 2 Cheryl Company uses the periodic inventory system. For the current month, the beginning inventory consisted of 1,200 units that cost $12 ...Read More

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