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6) An overstatement of ending inventory in one period results in: an understatement of net income for the next period (Marked incorrect Answer) b. no...

6) An overstatement of ending inventory in one period results in:

a. an understatement of net income for the next period (Marked incorrect Answer)

b. no effect on net income for the next period

c. an overstatement of the ending inventory for the next period

d. an overstatment of profit

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  • Site source: https://courses.lumenlearning.com/sac-finaccounting/chapter/impacts-of-inventory-errors-on-financial-statements/
    • payaljain3
    • Sep 01, 2018 at 10:23am

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find the guidelines below: correct option... View the full answer

If ending inventory is overstated then the Net... View the full answer

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