An Error in the Physical Count of Goods on Hand

question 144

Short Answer

An error in the physical count of goods on hand at the end of a period resulted in a $10,000 overstatement of the ending inventory.The effect of this error in the current period is

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Definitions:

Repeating Tasks

Tasks that are scheduled or performed regularly, often in a predictable pattern or interval.

Microsoft Word Tables

A feature in Microsoft Word that allows for the organization of data in rows and columns, facilitating the management and analysis of information.

Data Processing App

An application designed to collect, manipulate, and transform data to provide meaningful information.

Task Window

A pane or sidebar in software applications that provides options or tools relevant to the current task or activity.