Quiz 20.87 – C. Goode Eyeglasses (Error Not Discovered Until 2023)

Intermediate Accounting

Spiceland, Nelson, and Thomas

10th Edition

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If C. Goode Eyeglasses overstated its inventory by $30,000 at the end of 2021 and the error is not discovered until 2023, what would be required before adjusting or closing entries in 2023?

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