When an Understatement Misstatement in Inventory Occurs

question 8

Multiple Choice

When an understatement misstatement in inventory occurs

• A)cost of goods sold is understated
• B)net income is overstated
• C)inventory is overstated
• D)cost of goods sold is overstated
• E)net income is understated
• F)both A and B
• G)both D and E

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