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affects a specified inventory value. 1 In 2 0 2 5 , a review of Oppong Corporation's records showed that the 2 0 2 3

affects a specified inventory value.
1 In 2025, a review of Oppong Corporation's records showed that the 2023 ending inventory contained certain units that were counted twice. Explain how this affects the following:
2023 Cost of Goods Sold
Understated (1), No Effect (2), Overstated (3)
2 In 2025, a review of Gulf Corp.'s records showed that the 2023 ending inventory contained certain units that were counted twice. Explain how this affects the following:
2025 Net Income
Understated (1), No Effect (2), Overstated (3)
3 In 2025, a review of ABC Inc.'s records showed that 2023 purchases omitted the recording of several items. The ending inventory for 2023 was adjusted to match the inventory count. Explain how this affects the following:
2025 Net Income
Understated (1), No Effect (2), Overstated (3)
4 In 2025, a review of Northstar Corp.'s records showed that the 2023 ending inventory did not include several items. Explain how this affects the following:
2024 Ending Inventory
Understated (1), No Effect (2), Overstated (3)
5 In 2025, a review of Velor Inc.'s records showed that 2023 purchases recorded some items twice. The ending inventory for 2023 was adjusted to match the inventory count. Explain how this affects the following:
2023 Ending Inventory
Understated (1), No Effect (2), Overstated (3)n
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