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What are the examples of such errors

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Problem 1: What are some examples of when a company would want to change its inventory costing method.

Problem 2: Inventory errors can have an effect on the financial statements. The errors usually fall into one of four categories: physical miscounts, incorrectly assigned costs, inventory in transit, and consigned inventory incorrectly included. What kind of effects (in which financial statements) and what are the examples of such errors (overstated or understated) that we can think of.

Reference no: EM132684943

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