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The beginning inventory in Year 2 is under by 3000 and in Year 3 under by...

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Accounting

The beginning inventory in Year 2 is under by 3000 and in Year 3under by 2000. The purchases in Year 2 are over by 4000, and thepurchases in Year 3 are also over by 4000. You find these errors inYear 3 after the books of the previous years have closed. What'sthe correcting entry

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Cost of Goods Sold Opening inventory Purchases for the yearClosing inventory Whenever the opening inventory is in under valuation than our cost of Goods sold will be    See Answer
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