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Author Question: If Cost of Goods Sold was understated in Period 1, then Cost of Goods Sold and gross profit in ... (Read 223 times)

rlane42

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on: Feb 18, 2020
If Cost of Goods Sold was understated in Period 1, then Cost of Goods Sold and gross profit in Period 2 will be:
◦ overstated for cost of goods sold and understated for gross profit.
◦ both understated.
◦ understated for cost of goods sold and overstated for gross profit.
◦ both overstated.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by rlane42 on Feb 18, 2020

apple

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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rlane42

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Reply 2 on: Feb 18, 2020
Great answer, keep it coming :)

upturnedfurball

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Reply 3 on: Yesterday
Wow, this really help

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