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29 A company using a periodic inventory system fails to include some items in ending inventory at the end of the year. Which effect
29 A company using a periodic inventory system fails to include some items in ending inventory at the end of the year. Which effect will this omission have on the income statement? It will overstate cost of goods sold and understate net income. It will understate cost of goods sold and overstate net income. It will understate sales and overstate operating expenses. It will overstate sales and understate operating expenses. NEXT > BOOKMARK
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