Inventory Errors Flashcards by Courtney Bond

Q

Overstated Ending Inventory

A

Understatement in COGS
Overstatement in income

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Q

Understated Ending Inventory

A

Overstatement in COGS
Understatement in income

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Q

Overstatement of purchases

A

Overstatement of COGS
Understatement of income

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Q

Understatement of purchases

A

Understatement of COGS
Overstatement of income

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Q

Overstatement of beginning inventory

A

Overstatement of COGS
Understatement of income

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Q

Understatement of beginning inventory

A

Understatement of COGS
Overstatement of income

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