If a period-end inventory amount is reported in error, it can cause a misstatement in:
A. Cost of goods sold.
B. Gross profit.
C. Net income.
D. Current assets.
E. All of these.
Answer: E
If a period-end inventory amount is reported in error, it can cause a misstatement in:
A. Cost of goods sold.
B. Gross profit.
C. Net income.
D. Current assets.
E. All of these.
Answer: E