State the effects of inventory errors on cost of goods sold and net income for periods 1 and 2.The response should be overstated or understated.
Period 1 Ending Merchandise Inventory is overstated 
Definitions:
Parental Philosophy
The set of beliefs and principles that guide parents in raising their children, often influencing parenting style and practices.
Behavioral Problems
Actions or behaviors by an individual that are disruptive, harmful, or outside of societal norms, often needing intervention.
Suppress Sexual Urges
The conscious or unconscious attempt to control or diminish one's own sexual desires and impulses.
Projection
A defense mechanism where one attributes their own unacceptable thoughts or feelings to someone else.
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