An overstatement of ending merchandise inventory in the current period results in an overstatement of cost of goods sold in the current period.

Name: An overstatement of ending merchandise inventory in the current period results in an overstatement of cost of goods sold in the current period.
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An overstatement of ending merchandise inventory in the current period results in an understatement of cost of goods sold in the current period.

An Overstatement of Ending Merchandise Inventory in the Current Period