In Fran Company, ending inventory is understated ($ 4,000). The effects of this error on the current

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In Fran Company, ending inventory is understated $\$ 4,000$. The effects of this error on the current year's cost of goods sold and net income, respectively, are:

a. understated, overstated.

b. overstated, understated.

c. overstated, overstated.

d. understated, understated.

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Financial Accounting

ISBN: 9780471169208

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 13, 2024 02:09 AM

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In Fran Company, ending inventory is understated ($ 4,000). The effects of this error on the current

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Financial Accounting

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