If ending inventory on December 31, 2019, is overstated, then:
A) gross profit for the year ended December 31, 2020, will be understated
B) gross profit for the year ended December 31, 2019, will be understated
C) cost of goods sold for the year ended December 31, 2019, will be overstated
D) cost of goods sold for the year ended December 31, 2020, will be understated
Correct Answer:
Verified
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