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Other Fields Homework Help Accounting Topic started by: tivo on Feb 20, 2017



Title: If Cost of Goods Sold was understated in Period 1, then Cost of Goods Sold and gross profit in ...
Post by: tivo on Feb 20, 2017
If Cost of Goods Sold was understated in Period 1, then Cost of Goods Sold and gross profit in Period 2 will be:
A) both understated.
B) both overstated.
C) understated for cost of goods sold and overstated for gross profit.
D) overstated for cost of goods sold and understated for gross profit.


Title: Re: If Cost of Goods Sold was understated in Period 1, then Cost of Goods Sold and gross profit in ...
Post by: largerthanlife on Feb 20, 2017
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Title: Re: If Cost of Goods Sold was understated in Period 1, then Cost of Goods Sold and gross profit in ...
Post by: tivo on Apr 10, 2017
I appreciate it once again, answered correctly