Question: 30 A company is using the periodic inventory system. The company fails to record the purchase of certain goods and fails to count them

30 A company is using the periodic inventory system. The company fails to record the purchase of certain goods and fails to count them in ending inventory. Which effect will this omission have on the company's balance sheet? Understatement of inventory and accounts payable Understatement of inventory and overstatement of accounts payable Overstatement of inventory and understatement of accounts payable Overstatement of inventory and accounts payable NEXT > BOOKMARK

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