Business, 10.04.2020 23:48 davisz23

If ending inventory at the end of the year is understated, what is the effect on the cost of goods sold and net income?
a. Cost of goods sold will be overstated and net income will be overstated.
b. Cost of goods sold will be overstated and net income will be understated.
c. The cost of goods sold will be understated and net income will be understated.

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If ending inventory at the end of the year is understated, what is the effect on the cost of goods s...

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