Inventory Errors Flashcards
1
Q
Overstated Ending Inventory
A
Understatement in COGS
Overstatement in income
2
Q
Understated Ending Inventory
A
Overstatement in COGS
Understatement in income
3
Q
Overstatement of purchases
A
Overstatement of COGS
Understatement of income
4
Q
Understatement of purchases
A
Understatement of COGS
Overstatement of income
5
Q
Overstatement of beginning inventory
A
Overstatement of COGS
Understatement of income
6
Q
Understatement of beginning inventory
A
Understatement of COGS
Overstatement of income
