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Category > Accounting Posted 14 May 2017 My Price 5.00

On July 1, the Company announced that it had determined that the inventory

 

On July 1, the Company announced that it had determined that the inventory . . . had been overstated. . . . The overstatement of inventory . . . was $8,726,000.
Is this overstatement of inventory an overstatement of the beginning inventory..? Or the Ending inventory?
 
 

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Alpha Geek
(8)
Status NEW Posted 14 May 2017 04:05 PM My Price 5.00

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Attachments

file 1494778422-282611_1_636302529229193678_Statement-of-Inventory.xlsx preview (186 words )
28-----------261-----------1&a-----------mp;-----------amp-----------;in-----------foI-----------d=3-----------969-----------20S-----------tat-----------eme-----------nt -----------of -----------Inv-----------ent-----------ory-----------On -----------Jul-----------y 1-----------, t-----------he -----------Com-----------pan-----------y a-----------nno-----------unc-----------ed -----------tha-----------t i-----------t h-----------ad -----------det-----------erm-----------ine-----------d t-----------hat----------- th-----------e i-----------nve-----------nto-----------ry -----------. .----------- . -----------had----------- be-----------en -----------ove-----------rst-----------ate-----------d. -----------. .----------- . -----------The----------- ov-----------ers-----------tat-----------eme-----------nt -----------of -----------inv-----------ent-----------ory----------- . -----------. .----------- wa-----------s $-----------8,7-----------26,-----------000-----------.Is----------- th-----------is -----------ove-----------rst-----------ate-----------men-----------t o-----------f i-----------nve-----------nto-----------ry -----------an -----------ove-----------rst-----------ate-----------men-----------t o-----------f t-----------he -----------beg-----------inn-----------ing----------- in-----------ven-----------tor-----------y..-----------? O-----------r t-----------he -----------End-----------ing----------- in-----------ven-----------tor-----------y? -----------Thi-----------s o-----------ver-----------sta-----------tem-----------ent----------- of----------- in-----------ven-----------tor-----------y i-----------s a-----------n o-----------ver-----------sta-----------tem-----------ent----------- of----------- th-----------e -----------End-----------ing----------- in-----------ven-----------tor-----------yEx-----------pla-----------nat-----------ion-----------The----------- be-----------gin-----------nin-----------g I-----------nve-----------nto-----------ry -----------is
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