Question: How are errors in inventory between physical counts and the perpetual impact the income statement? A.An inventory shortage in inventory reduces cost of goods sold.

How are errors in inventory between physical counts and the perpetual impact the income statement?

A. An inventory shortage in inventory reduces cost of goods sold.

B. A shortage in physical counts reduces current assets.

C. A shortage in inventory increases the cost of goods sold.

D. A shortage in inventory increases net income.


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