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AFW Inc. reported these figures for its fiscal year (amounts in millions): Net sales 1,400 400 Suppose AFW later learns that ending inventory was overstated

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AFW Inc. reported these figures for its fiscal year (amounts in millions): Net sales 1,400 400 Suppose AFW later learns that ending inventory was overstated by $11 million. What are the correct amounts for (a) net sales, (b) ending inventory, (c) cost of goods sold, and (d) gross profit? a) Net sales would be smillon (b) Ending inventory would be Smillion (c) Cost of goods sold would be Smillion. (d) Gross profit would be s million

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