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Question 43 (2 points) Ending inventory for the current year is understated by $10,000. What effect will this error have on Cost of Merchandise Sold

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Question 43 (2 points) Ending inventory for the current year is understated by $10,000. What effect will this error have on Cost of Merchandise Sold and Net Income. CMS--Understated: NI--Overstated CMS- -Understated; NI- -Understated CMS- - Overstated; NI--Understated CMS- Overstated; NI--Overstated

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