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    Intermediate Accounting Study Set 3
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    Exam 8: Cost-Based Inventories and Cost of Sales
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    If Purchases Made in One Year Are Mistakenly Recorded the Following
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If Purchases Made in One Year Are Mistakenly Recorded the Following

Question 164

Question 164

True/False

If purchases made in one year are mistakenly recorded the following year, this error will counterbalance, that is, there will be no effect on income over a 2-year period.

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