It important that the proper amount be assigned to inventory because the amount assigned to inventory will affect the amount eventually recorded as net sales.

Name: It important that the proper amount be assigned to inventory because the amount assigned to inventory will affect the amount eventually recorded as net sales.
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Question

Quizplus · Accepted Answer

The amount assigned to inventory affects the cost of goods sold and gross margin, but net sales are determined by the total revenue from goods sold, not the inventory valuation.

It Important That the Proper Amount Be Assigned to Inventory