An error understated Golden Flash Companys December 31, 2018, ending inventory by $27,000. What effect will this

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An error understated Golden Flash Company’s December 31, 2018, ending inventory by $27,000. What effect will this error have on net income for 2019?

a. Understate it

b. Have no effect on it

c. Overstate it

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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Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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Question Posted: Jun 15, 2019 07:57 AM

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An error understated Golden Flash Companys December 31, 2018, ending inventory by $27,000. What effect will this

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Financial Accounting

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