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Queener Corporation Uses a Periodic Inventory System and Neglected to Record

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Queener Corporation uses a periodic inventory system and neglected to record a purchase of merchandise on account at year-end.This merchandise was omitted from the year-end physical count.How will these errors affect Queener's assets,liabilities,and stockholders' equity at year-end and net earnings for the year?
Queener Corporation uses a periodic inventory system and neglected to record a purchase of merchandise on account at year-end.This merchandise was omitted from the year-end physical count.How will these errors affect Queener's assets,liabilities,and stockholders' equity at year-end and net earnings for the year?

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