...me...? following errors: Inventory on December 31, 2008, is understated by $63,000, and inventory on December 31, 2009, is overstated by $40,000.
For Year Ended December 31200820092010
(a)Cost of goods sold$ 623,000 $ 963,000 $ 788,000
(b)Net income 220,000 290,000 243,000
(c)Total current assets 1,250,000 1,380,000 1,240,000
(d)Total equity 1,397,000 1,570,000 1,244,000
above is the information, please let me know.... I am so confused about how to copulate those question....
For Year Ended December 31200820092010
(a)Cost of goods sold$ 623,000 $ 963,000 $ 788,000
(b)Net income 220,000 290,000 243,000
(c)Total current assets 1,250,000 1,380,000 1,240,000
(d)Total equity 1,397,000 1,570,000 1,244,000
above is the information, please let me know.... I am so confused about how to copulate those question....