Question: ABC uses periodic inventory system. In 2 0 2 0 physical count of inventory cause a mistake of overstating the ending inventory. Which of the

ABC uses periodic inventory system. In 2020 physical count of inventory cause a mistake of overstating the ending inventory. Which of the following is correct?
Cost of goods sold will be overstated.
Net income will be understated.
Cost of goods sold will be understated.
Net income will not be affected.
ABC uses periodic inventory system. In 2020 physical count of inventory

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