What will cause an understatement of Cost of Goods Sold?

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Misstatement of inventories or cost of good sold can be detected by:
Posted by:
Mir Mujtaba Ali
12-March-2015

A. Understated beginning inventory

B. Overstated purchases

C. Understated ending inventory

D. A and B

E. None of the above

F. All of the above

Accounting Auditing Cost Accounting Budgeting Financial Accounting

Question added by Michael Lagunday , Accountant , Dubai Camel Racing Club
Date Posted: 2015/08/09

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2 Answers

Mary Grace Patano

by Mary Grace Patano , General Accountant , Logilink Freight Services FZCO

A. understated beginning inventory.

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by Saidul Alam , Accountant , Akhtar Al Balushi Trad. & Cont. L.L.C

Option A is correct.........................

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