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    Fundamentals of Financial Accounting Study Set 3
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    Exam 7: Inventory and Cost of Goods Sold
  5. Question
    An Incorrect Valuation of the Ending Inventory Affects the Balance
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An Incorrect Valuation of the Ending Inventory Affects the Balance

Question 23

Question 23

True/False

An incorrect valuation of the ending inventory affects the balance sheet but not the income statement.
BT: Knowledge

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