In year 1 ending inventory is overstated by $2,000. explain the effect on cost of goods sold, gross profit and net income in year 1 and year 2 select all answers that apply.

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02-11-2022
Business

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In year 1 ending inventory is overstated by $2,000. explain the effect on cost of goods sold, gross profit and net income in year 1 and year 2 select all answers that apply.

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