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An error in a company's balance sheet was found. the ending inventory was listed at $40,000 instead of $38,000. Assuming no other errors, which of
An error in a company's balance sheet was found. the ending inventory was listed at $40,000 instead of $38,000. Assuming no other errors, which of the following statements is true concerning the following years financial statements a. the cost of goods sold for the year will be overstated b. the ending inventory on the balance sheet will be overstated c.the net income for the year will be overstated or d. the beginning inventory on the balance sheet will be understated
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