If the Gross Margin Percentage Used in the Gross Margin

question 9

Multiple Choice

If the gross margin percentage used in the gross margin method were overstated (for example, 36% instead of 32%) , what would happen?

• A)Cost of goods sold would be overstated.
• B)Ending inventory would be understated.
• C)Ending inventory would be overstated.
• D)Ending inventory would be correctly stated, but beginning inventory would be incorrect.

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