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  3. assume the ending inventory at august 31 is $30,00

Assume the ending inventory at August 31 is $30,000 rather than $41,000, based on a...

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Accounting

  1. Assume the ending inventory at August 31 is $30,000 rather than $41,000, based on a physical count taken at year-end. What is the significance of this difference? How would it affect the income statement?

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