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THIRRURIN ENTRS Question 3 (continued) What is the effect of overstating ending inventory on the income statement? (2 marks) Effect of overstating inventory? Income Statement

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THIRRURIN ENTRS Question 3 (continued) What is the effect of overstating ending inventory on the income statement? (2 marks) Effect of overstating inventory? Income Statement Sales Sales returns Sales discounts Net sales Cost of sales Gross margin - Expenses Profit Why is there pressure in the second year? (1 mark)

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