(True) or (False)? Understated ending inventory results in an understatement of cost of goods sold and an understatement of gros

Question

3 years ago

12

s margin and net income.

2 answers:

pentagon [3] · Answer 1 · 2022-08-26T15:06:58+03:00

8 0

Answer:

FALSE

explanation:

If you understated ending inventory, your cost of goods sold will be overstated by the error amount, and net income and gross profit are understated

VMariaS [17] · Answer 2 · 2022-08-26T16:08:29+03:00

6 0

Answer:

FALSE

Step-by-step explanation:

The understated ending inventory results in an understatement of cost of goods sold and an understatement of gross margin and net income is False.