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11- If ending inventory is overvalued: a) Assets are overstated in the statement of financial...

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Accounting

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11- If ending inventory is overvalued: a) Assets are overstated in the statement of financial position. b) Assets are understated in the statement of financial position. c) Profit is understated in the statement of profit or loss (as cost of sales is too high). d) There is no impact on either statement of financial position or statement of profit or loss

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