ACC305 Week 4 Ethics Case 9 11 on page 497

Question: #9229

Ethics Case 9-11 on page 497

Danville Bottlers is a wholesale beverage company. Danville uses the FIFO inventory method to determine the cost of its ending inventory. Ending inventory quantities are determined by a physical count. For the fiscal year- end June 30, 2011, ending inventory was originally determined to be $3,265,000. However, on July 17, 2011, John Howard, the company’s controller, discovered an error in the ending inventory count. He determined that the correct ending inventory amount should be $2,600,000.

Solution: #9266

ACC305 Intermediate Accounting III Week 4 Ethics Case 9-11 on page 497

Ethics Case 9-11 on page 497 Danville Bottlers is a wholesale beverage company. Danville uses the FIFO inventory method to determine...