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Bakery reported net sales revenue of $ 60 comma 000and cost of goods sold of $ 23 comma 000.Compute Hudson River'scorrect gross profit if the company made either of the following independent accounting errors.a.  Ending merchandise inventory is overstated by $ 6 comma 000.b.  Ending merchandise inventory is understated by $ 6 comma 000.

Respuesta :

Answer:

a. $43,000

b. $31,000

Explanation:

Computation table:

Particular's                        Reported   (a)Overstated    (b)Understated

Sale's revenue                   $60,000       $60,000           $60,000

Less: Cost of goods sold   $23,000        $23,000          $23,000

Add/Less: Adjustment                              $6,000            ($6,000)

Gross profit                         $37,000        $43,000         $31,000

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