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Use a "+" to Denote an Item Is Too High

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Use a "+" to denote an item is too high as a result of an error, a "-" to denote too low, and a 0 to indicate no effect. What is the effect of each of the following errors on the financial statements of a company, which uses a periodic inventory system? Use a  +  to denote an item is too high as a result of an error, a  -  to denote too low, and a 0 to indicate no effect. What is the effect of each of the following errors on the financial statements of a company, which uses a periodic inventory system?


Definitions:

Hypospadias

A congenital condition in males where the opening of the urethra is not located at the tip of the penis.

Bladder Exstrophy

A rare congenital condition where the bladder and parts of the urinary tract are exposed outside the body.

Testicular Dysgenesis Syndrome

A condition involving poor development of the testes, leading to infertility, reduced secondary sex characteristics, and increased risk of testicular cancer.

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