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asap The measurement of inventory affects both the balance sheet and the income statement within an...

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The measurement of inventory affects both the balance sheet and the income statement within an accounting O. period. d. The e
The measurement of inventory affects both the balance sheet and the income statement within an accounting O. period. d. The ending inventory of one accounting period becomes the beginning inventory of the next accounting period. QUESTION 14 4 Pedal Pushers Inc. discovered the ending inventory for the year-ended Dec 31, 2019 was overstated by $3,200 such that ending inventory is recorded as $97,200. This error was discovered in 2019 and prior to the issuance of the December 31, 2019 financial statements. As result the following journal entry would be made: Retained Earnings $3,200 O a. Cost of Goods Sold $3,200 Retained Earnings $3,200 Inventory $3,200 Cost of Goods Sold $3,200 OC. Inventory $3,200 cist of goods sold $3,200 Retained earnings $3,200 Ob. Od QUESTION 15 4 Merriman Manufacturing has determined its year-end inventory on a LIFO basis to be $620,000 Information pertaining to the inventory is as follows: Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers FA F5 F6 F7 F8 F10
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