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An Understatement of the Beginning Inventory Balance Causes Cost of Goods

Question 161

Multiple Choice

An understatement of the beginning inventory balance causes cost of goods sold to be:


A) understated and net income to be understated.
B) understated and net income to be overstated.
C) overstated and net income to be understated.
D) overstated and net income to be correct.

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