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Fast2F Fast2F
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7 years ago
Assume that in Year 1, the ending merchandise inventory is overstated by $30,000. If this is the only error in Year 1, fill in the items below, indicating which items will be understated(U), overstated(O), or correctly(C) stated for Year 1.

Ending merchandise inventory   Year 1 ________
Beginning merchandise inventory   Year 1 ________
Cost of goods sold   Year 1 ________
Gross profit   Year 1 ________
Net income   Year 1 ________
Ending owner's capital   Year 1 ________
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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LaffioLaffio
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7 years ago
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Fast2F Author
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#2
7 years ago
I’m very happy now Smiling Face with Open Mouth Thank you for the answe
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