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11. An error in the physical count of goods on hand at the end of a period resulted in a $18,000 understatement of the ending

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11. An error in the physical count of goods on hand at the end of a period resulted in a $18,000 understatement of the ending inventory. The effect of this error in the current period is Answer: a. b. Cost of Goods Sold Net Income Understated Understated Overstated Overstated Understated Overstated Overstated Understated

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