Assume the ending inventory at August 31 is $30,000 rather than $41,000, based on a physical count

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Assume the ending inventory at August 31 is $30,000 rather than $41,000, based on a physical count taken at year-end. What is the significance of this difference? How would it affect the income statement?

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Biochemistry

ISBN: 978-1285429106

8th edition

Authors: Mary K. Campbell, Shawn O. Farrell

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Posted Date: Jan 03, 2021 04:52 AM

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Assume the ending inventory at August 31 is $30,000 rather than $41,000, based on a physical count

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This can be understand by the following accounting equation Beginning inventory purchase ending inve... View the full answer

Biochemistry

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