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Why the answer is A? The question didnt mention the inventory is end inventory or begining inventory. . A company using the periodic inventory system
Why the answer is A? The question didnt mention the inventory is end inventory or begining inventory.
. A company using the periodic inventory system correctly recorded a purchase of merchandise, but the merchandise was not included in the physical inventory count at the end of the accounting period. The error caused an: A) understatement of both net income and assets. B) overstatement of inventory, purchases, and accounts payable. D) overstatement of net income and assets. E) None of the above is correct
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