Multiple Choice
An error in the ending inventory for the year ended December 31,2019:
A) automatically creates errors in cost of goods sold in the 2019 and 2020 financial statements.
B) has no effect on the 2019 financial statements,but will create an error in the 2020 financial statements.
C) automatically creates errors in the ending inventory balance in the 2019 and 2020 financial statements.
D) affects only the 2019 financial statements.
Correct Answer:
Verified
Correct Answer:
Verified
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