What will cause an overstatement of Cost of Goods Sold?

A. Understated beginning and ending inventory

B. Understated beginning and overstated ending inventory

C. Overstated beginning and overstated ending inventory

D. Overstated beginning and understated ending inventory

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

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by Gashirai Masvikeni , Audit Senior , Grant Thornton Cape (South Africa)

Overstated beginning and understated ending inventory

Cost of Good Sold(COGS) equal:
Top Answer: <p>b. Beginning inventory + Purchases - Ending Inventory</p> See More

Answers (2)
Beginning inventory plus purchases minus ending inventory equal?
Top Answer: Option1: Cost of good sold. See More

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Misstatement of inventories or cost of good sold can be detected by:
Top Answer: Answer will be C) Cost of good sold divided by inventories See More

Answers (21)
What is the cost of ending inventory given the following factors?
Top Answer: Opening Inventory +Additions during the year - cost of goods sold Answer option (c) >>>>> ... See More

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