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    Intermediate Accounting Study Set 14
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    Exam 21: Accounting Changes
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    An Overstatement of Opening Inventory Will Result in an Understatement
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An Overstatement of Opening Inventory Will Result in an Understatement

Question 58

Question 58

True/False

An overstatement of opening inventory will result in an understatement of Cost of Goods Sold and therefore an overstatement of the current period's earnings.

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