Bennett Company's Accountant Made the Following Errors Related to Merchandise

question 64

Multiple Choice

Bennett Company's accountant made the following errors related to merchandise inventory in 2013:
1.The beginning inventory for 2013 was overstated by $1,900 due to an error in the physical count.
2.A $1,150 purchase of merchandise on credit was not recorded, but the items were included in the ending inventory.
Assuming a periodic inventory system, Bennett Company's 2013 cost of goods sold will be

• A) understated by $750
• B) understated by $1,900
• C) overstated by $750
• D) overstated by $1,900

---

Definitions:

Web Scraping

The process of automatically extracting large amounts of data from websites, typically using specialized software or scripts.

Data Extraction

The process of retrieving relevant data from data sources for further data processing or data storage.

Ethical

Pertaining to or dealing with morals or the principles of morality; adhering to accepted standards of conduct, especially in professional practices.

Primary Data

Data collected specifically for the research problem at hand.