If beginning Merchandise Inventory is "Understated", what effect will it have on: Answer either "U"...
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Accounting
If beginning Merchandise Inventory is "Understated", what effect will it have on: Answer either "U" for understated or "O" for overstated Cost of Merchandise Sold _____________ Gross profit _________________ Net Income ________________
If Ending Merchandise Inventory is "Overstated", what effect will it have on: Write "U" for understated or "O" for overstated Cost of Merchandise Sold ______________ Gross profit _______________ Net Income _______________
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