Zealand Ltd. (Zealand) is a distributor of imported products. In the fiscal year just ended, a number
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a. Some inventory was accounted for as sold even though it wasn't shipped as of the end of the year. The inventory wasn't included in the inventory count. Revenue is normally recognized on delivery.
b. Some inventory wasn't counted.
c. The NRV of previously-written-down inventory recovered but wasn't written back up.
d. Inventory received from a supplier on consignment was included in the inventorycount.
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