When ending inventory is understated, what effect will it have on cost of goods sold and net

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When ending inventory is understated, what effect will it have on cost of goods sold and net income?

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...
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College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

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