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    Fundamental Accounting Principles Study Set 1
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    Exam 6: Inventories and Cost of Sales
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    An Understatement of the Ending Inventory Balance Will Overstate Cost
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An Understatement of the Ending Inventory Balance Will Overstate Cost

Question 156

Question 156

True/False

An understatement of the ending inventory balance will overstate cost of goods sold and understate net income.

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