Multiple Choice
Zebra Company overstated its December 31,2017,inventory by $5,200.Which of the following statement is true concerning Zebra's financial statement amounts for 2017?
A) Retained earnings are understated.
B) Gross profit is overstated.
C) Cost of goods sold is overstated.
D) Net income is understated.
Correct Answer:
Verified
Correct Answer:
Verified
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