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Home Q & A Board Other Fields Homework Help Business Accounting
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bravata bravata
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7 years ago
If Period 1 ending inventory is overstated, then:
A) both cost of goods sold and net income are understated in Period 1.
B) cost of goods sold is overstated and net income is understated in Period 1.
C) cost of goods sold is understated and net income is overstated in Period 1.
D) both cost of goods sold and net income are overstated in Period 1.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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antonio_johnantonio_john
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7 years ago
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Massachusetts Institute of Technology
-- Accounting

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bravata Author
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#2
6 years ago
Let me just say, you are awesome Smiling Face with Open Mouth
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