Assume that a$100 purchase invoice received close toyear-end is not recorded in fiscal2019, but the inventory is appropriately included in the ending inventory count. What impact will this have on fiscal 2019 financialreporting?

A.

Gross margin is understated.

B.

Operating profit is understated by$100.

C.

Cost of sales is understated by$100.

D.

Sales are understated by$100.