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Author Question: Shaman Inc.'s income statement includes sales revenue $117,000, cost of goods sold $72,000, and ... (Read 81 times)

melly21297

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Shaman Inc.'s income statement includes sales revenue $117,000, cost of goods sold $72,000, and gross profit $45,000. If ending inventory was accidentally overstated by $5,000, what is the correct amount for gross profit?
◦ $40,000
◦ $45,000
◦ $55,000
◦ $50,000


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Marked as best answer by melly21297 on Feb 18, 2020

AngeliqueG

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melly21297

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Reply 2 on: Feb 18, 2020
Thanks for the timely response, appreciate it


sultana.d

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Reply 3 on: Yesterday
Excellent

 

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