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dennis97

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  • April 5, 2017 at 4:54 pm #380202
    mysterydennis97
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    Thanks, I think you are right.

    November 29, 2016 at 7:57 am #352323
    mysterydennis97
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    Thanks.

    November 29, 2016 at 5:34 am #352276
    mysterydennis97
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    1. Because the method we use to calculate ‘cost of sales’ is by: opening inventory + purchase – closing inventory = cost of sales.

    If the closing inventory should be Higher (because it was understated) then the cost of sales should be lower (because it was overstated).

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