Question: The following statement is true regarding inventory errors (overstating or understating ending Merchandise Inventory): ANSWER Inventory errors will cancel out after two periods. Inventory errors

The following statement is true regarding inventory errors (overstating or understating ending Merchandise Inventory): ANSWER Inventory errors will cancel out after two periods. Inventory errors never cancel out without manually being corrected. None of the above is correct. Inventory errors will cancel out after three periods. OO OO

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