Imp Company uses a periodic inventory system. Beginning inventory on January 1 was overstated by $32,000, and its ending inventory on December 31 was understated by $62,000. These errors were not discovered until the next year. As a result, the company's gross profit for this year was:

$30,000 Overstated

Explanation:

Calculation to determine the gross profit

Using this formula

Gross profit = Beginning inventory overstated- Ending inventory understated

Let plug in the formula

Gross profit =$32,000-$62,000

Gross profit=$30,000 Overstated

Therefore the gross profit is $30,000 Overstated

these are the four factors that influence enterpreneurship development

1. economic development

2. culture

3.technological development

4. education

the correct answer is - no.

winnipeg, canada, is not further away from the equator than moscow, russia, in fact moscow is the city that is further away from the equator. moscow is on a latitude of 55.7558° north, while winnipeg is on a latitude of 49.8951° north, thus putting moscow by 5.8607° further away from the equator than winnipeg is.