Question
The effect of an error resulting in an understatement of ending inventory is to: A. Overstate the next period's beginning inventory. B. Understate the cost
The effect of an error resulting in an understatement of ending inventory is to:
A. Overstate the next period's beginning inventory.
B. Understate the cost of goods sold of the current period.
C. Overstate cost of goods sold of the current period.
D. Overstate operating expenses of the current period.
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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132
