Vaughn determined that inventory was understated by $137000 at the beginning of the year and $58800 at the end of the year.

Vaughn Inc. reported total assets of $6392000 and net income of $508000 for the current year. Vaughn determined that inventory was understated by $137000 at the beginning of the year and $58800 at the end of the year. What is the corrected amount for total assets and net income for the year?

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"