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2. If ABC. records its beginning inventory and purchases, but include some items twice (double count the same items) in ending inventory, what is the
2. If ABC. records its beginning inventory and purchases, but include some items twice (double count the same items) in ending inventory, what is the effect on the financial statements? a. Inventory understated; COGS overstated b. Inventory understated; Net income overstated c. COGS understated; Net income overstate d. COGS overstated; Net income overstated
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Global Financial Systems Stability And Risk
Authors: Jon Danielsson
1st Edition
0273774662, 9780273774662
