Question: PLEASE ANSWER ASAP Assume Brown Co. uses periodic Inventory system. If the 2020 ending inventory is overstated by $2,000, which of the following is true

PLEASE ANSWER ASAP

Assume Brown Co. uses periodic Inventory system. If the 2020 ending inventory is overstated by $2,000, which of the following is true for 2020? Net Income will be overstated Gross Profit will be understated o Beginning Inventory was understated. Cost of Goods Sold will be understated

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