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Impact on the presentation of the balance sheet

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If Barcelona Company's ending inventory was $122,000, but the cost of consigned goods, with a cost value of $20,000 were accidentally included with the company assets, when making the year-end inventory adjustment, what would be the impact on the presentation of the balance sheet and income statement for the year that the error occurred, if any? Show your calculations.

Reference no: EM133266691

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