When closing stock is undervalued; the cost of goods sold would be?

By: |Published on: Apr 23|Categories: Accounting WAEC| 0 comments

A. overstated and the gross profit understated
B. understated and the gross profit overstated
C. understated and the gross profit overstated
D. understated and the gross profit understated

Correct Answer:

Option A – overstated and the gross profit understated

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