Answer
b
Work Step by Step
When ending inventory is understated, the cost of goods sold is overstated, which results in net income being understated.
Accounting: Tools for Business Decision Making, 5th Edition
by Kimmel, Paul D.; Weygandt, Jerry J.; Kieso, Donald E.
Published by
Wiley
ISBN 10:
1118128168
ISBN 13:
978-1-11812-816-9
Chapter 6 - Reporting and Analyzing Inventory - Self-Test Questions - Page 312: 14
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