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Other Fields Homework Help Accounting Topic started by: H3Ko on Aug 29, 2016



Title: The ending Merchandise Inventory for the current accounting period is understated by $2,700. What ...
Post by: H3Ko on Aug 29, 2016
The ending Merchandise Inventory for the current accounting period is understated by $2,700. What effect will this error have on Cost of Goods Sold and Net Income for the current accounting period?

A) Cost of Goods Sold   Net Income
Understated   Overstated

B) Cost of Goods Sold   Net Income
Understated   Understated

C) Cost of Goods Sold   Net Income
Overstated   Understated

D) Cost of Goods Sold   Net Income
Overstated   Overstated


Title: Re: The ending Merchandise Inventory for the current accounting period is understated by $2,700. ...
Post by: .unplugged. on Aug 29, 2016
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Title: Re: The ending Merchandise Inventory for the current accounting period is understated by $2,700. What ...
Post by: H3Ko on Oct 12, 2016
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.


Title: Re: The ending Merchandise Inventory for the current accounting period is understated by $2,700. ...
Post by: scooper99 on Apr 8, 2020
thank you