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MegaCorp regularly includes in - transit goods in its inventory when the goods have been shipped FOB destination from its suppliers. How would this affect

MegaCorp regularly includes in

-

transit goods in its inventory when the goods have been shipped FOB destination from its suppliers.

How would this affect MegaCorp's financial statements?

Assets would be understated.

Revenues would be overstated.

Liabilities would be understated.

Assets would be overstated.

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