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    mhmxamyleexfan's Avatar
    mhmxamyleexfan Posts: 1, Reputation: 1
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    #1

    Mar 17, 2011, 10:05 AM
    Louise Company
    The beginning inventory balance for Year 1 is correct. The ending inventory balance for Year 2 is also correct. However, the ending inventory figure for Year 1 was overstated by $20,000. Given this information, the correct gross profit figures for Year 1 and Year 2 would be:

    Year one
    Beginning inventory : 132,000
    Ending: 144,0000

    Year two
    Beginning inventory : 144,000
    Ending:152,000
    kcomissiong's Avatar
    kcomissiong Posts: 1,166, Reputation: 276
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    #2

    Mar 18, 2011, 09:03 AM
    Please read the announcement concerning homework help HERE.

    You need to attempt the assignment, show us what you have tried, and THEN ask for help where you need it. We will not do your assignment for you.
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