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QUESTION 15 If the ending inventory is incorrectly calculated at the end of Year 1 but it is calculated accurately at the end of
QUESTION 15 If the ending inventory is incorrectly calculated at the end of Year 1 but it is calculated accurately at the end of Year 2, what is the effect of this error by the end of Year 2? There is no affect on any financial statement accounts O It will self-correct by the end of Year 2 It affects only income statement accounts. It affects only balance sheet accounts
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge
9th edition
290-1259222138, 1259222136, 978-1259222139
