A) The following errors occurred related to a periodic inventory system: In 2022, the intern...
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Accounting
A) The following errors occurred related to a periodic inventory system: In 2022, the intern double counted inventory worth $5,000. In 2023, the new intern did not count an entire room of inventory worth $8,000. Year Net Income Assets Liabilities Owners' Equity 2022 2023 2024 B) The following errors occurred related to a periodic inventory system: In 2022, the new intern did not count a shelf of inventory worth $2,000. In 2023, at December 29 we sold inventory at a sales price of $10,000 on account that shipped FOB destination point on December 31, and arrived to the customer on Jan 2nd. We recorded the sale when it shipped. The intern counted inventory before the shipment and thus the product was included in the year-end inventory count. Year Net Income Assets Liabilities Owners' Equity 2022 2023 2024
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