12 A company overstated its ending inventory balance by $6,000 in 2024. ...

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Accounting

12
A company overstated its ending inventory balance by $6,000 in 2024.
a. What impact will this error have on cost of goods sold and gross profit in 2024?
b. What impact will this error have on cost of goods sold and gross profit in 2025?
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What impact will this error have on cost of goods sold and gross profit in 2024?
\table[[,,2024],[Cost of goods sold,,],[Gross profit,,]]
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