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

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Accounts - Principles of Accounts WAEC 2019

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

  • overstated and the gross profit understated checkmark
  • understated and the gross profit overstated
  • understated and the gross profit overstated
  • understated and the gross profit understated

The correct answer is: A

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