The Understatement Of The Ending Inventory Balance Causes:

Selasa, 02 Agustus 2022

The Understatement Of The Ending Inventory Balance Causes:

NEWS VANESSA Agustus 02, 2022 Comment

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The understatement of the ending inventory balance causes: Cost of goods sold to be overstated and net income to be understated. The inventory turnover ratio is calculated as: An understatement of the ending inventory balance will cause:

Cost of goods sold to be overstated and net income to be overstated. Cost of goods sold to be understated and net income to. The understatement of the ending inventory balance causes However, the ending inventory was undercounted by $30,000, so the ending inventory balance should have been $130,000, which means that the cost of goods sold should have been $870,000. The result is reported profits that are $30,000 lower than is really the case. Causes of understated ending inventory An understatement of assets and equity on the balance sheet c. An overstatement of assets and an understatement of equity on the balance sheet d. An understatement of assets and an overstatement of equity on;