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Indicate whether each of the following statements is true or false. (Assume a periodic inventory...

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Accounting

Indicate whether each of the following statements is true or false. (Assume a periodic inventory system)
8
00:34:42
a)
If the balance in ending inventory is overstated, net income will be understated.
b)
If the balance in ending inventory is understated, retained earnings will be understated
c)
If the balance in ending inventory is overstated, selling and administrative expenses will not be affected.
d)
If the balance in ending inventory is overstated, cost of goods sold will be overstated.
e)
If the balance in ending inventory is overstated, assets will be overstated.

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