Prunedale co. uses a periodic inventory system. beginning, Ask an Expert

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Prunedale Co. uses a periodic inventory system. Beginning inventory on January 1 was overstated by $32,000, and its ending inventory on December 31 was understated by $62,000. These errors were not discovered until the following year. As a result, what was Prunedale's cost of goods sold for this year ?

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Accounting Basics, Accounting

Category:- Accounting Basics
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