Question: Assume that a purchase invoice for $ 1 , 0 0 0 was appropriately recorded in fiscal 2 0 2 4 , but the inventory

Assume that a purchase invoice for $1,000 was appropriately recorded in fiscal 2024, but the inventory was excluded in error during the ending
inventory count. What impact will this have on fiscal 2024 financial reporting?
A. Ending inventory is overstated by $1,000.
B. Gross margin is overstated by $1,000.
C. Cost of sales is overstated by $1,000.
D. Cost of goods available for sale is ove istated by $1,000.
Assume that a purchase invoice for $1,000 was appropriately recorded in

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