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  3. at the end of the fiscal year, merchandise costing

At the end of the fiscal year, merchandise costing $100,000 was not counted during the...

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Accounting

At the end of the fiscal year, merchandise costing $100,000 was not counted during the physical count of inventory of ABC Corp. Unfortunately, this error was not detected, and the financial statements of the company were prepared based on these figures. Please determine the financial statements and items that would be affected by this error, and explain the impact of the count error on each financial statement.

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