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Which of the following statements is incorrect ? Ending inventory exceeds beginning inventory when purchases are greater than cost of goods sold. Cost of goods
Which of the following statements isincorrect?
- Ending inventory exceeds beginning inventory when purchases are greater than cost of goods sold.
- Cost of goods sold exceeds purchases when ending inventory is less than beginning inventory.
- Cost of goods available for sale will always be equal to or greater than cost of goods sold.
- Ending inventory is greater than beginning inventory when purchases are less than cost of goods sold.
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