The accountant for Lee Company made the following errors related to merchandise inventory in 2016: 1. The beginning inventory for 2016 was overstated by $750 due to an error in the physical count. 2. A $1,300 purchase of merchandise on credit was not recorded and was not included in the ending inventory. ? Assuming a periodic inventory system, Lee Company's 2016 cost of goods sold will be
A) understated by $550.
B) understated by $2,050.
C) overstated by $2,050.
D) overstated by $750.
D
Business
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Use the information in Table 8.6. Use the exponential smoothing method with = 0.5 and a February forecast of 500 to forecast the sales for May
A) fewer than or equal to 530 B) greater than 530 but fewer than or equal to 540 C) greater than 540 but fewer than or equal to 550 D) greater than 550
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