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If ending inventory on December 31, 2019, is overstated, then _______. A. gross profit for the year ended December 31, 2020, will be understated B.

If ending inventory on December 31, 2019, is overstated, then _______.

A. gross profit for the year ended December 31, 2020, will be understated

B. cost of goods sold for the year ended December 31, 2020, will be understated

C. gross profit for the year ended December 31, 2019, will be understated

D. cost of goods sold for the year ended December 31, 2019, will be overstated

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Fundamentals of Corporate Finance

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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