Ending inventory for the current accounting period is overstated by $2,700. What effect will this error have on Cost of Goods Sold and Net Income for the current accounting period?
A)
Cost of Goods Sold Net Income
Overstated Overstated
B)
Cost of Goods Sold Net Income
Understated Overstated
C)
Cost of Goods Sold Net Income
Overstated Understated
D)
Cost of Goods Sold Net Income
Understated Understated
B
Business
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The average amount of inventory used to satisfy demand between receipt of supplier shipments is referred to as
A) cycle inventory. B) safety inventory. C) seasonal inventory. D) sourcing.
Business
The replacement of internal capacity and production with that of a supplier's is known as:
A) outpartnering. B) capacity cushioning. C) outsourcing. D) capacity buying.
Business