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If inventory at the end of the year is understated by $60,000, what will this error cause? a. An overstatement of inventory for the year
If inventory at the end of the year is understated by $60,000, what will this error cause?
a. An overstatement of inventory for the year by $60,000
b. An overstatement of gross profit for the year by $60,000
c. An understatement of net income for the year by $60,000
d. An understatement of cost of goods sold for the year by $60,000
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