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TB MC Qu. 7-193 (Static) Which of the following financial statement... Which of the following financial statement line items will be affected in Year 1

TB MC Qu. 7-193 (Static) Which of the following financial statement...

Which of the following financial statement line items will be affected in Year 1 if the ending inventory is overstated at the end of Year 1?

Multiple Choice

Current liabilities will be overstated.

Cost of goods sold will be overstated.

Current assets will be overstated.

Net income will be understated.

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