If ending inventory on December 31,2016,is overstated,then:
A) cost of goods sold for the year ended December 31, 2017, will be understated
B) cost of goods sold for the year ended December 31, 2016, will be overstated
C) gross margin for the year ended December 31, 2016, will be understated
D) gross margin for the year ended December 31, 2017, will be understated
Correct Answer:
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