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Topic
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Q: Inventory turnover decreased substantially from the prior year
A: Items shipped FOB shipping point during December Y2 were included in Y3 sales
explanation: Neglecting to record Y2 sales results in an understatement of COGS and an overstatement of inventory
i kinda get how COGS would be understated because your taking COGS that should be recorded in Y2 into Y3 but have no clue why inventory is overstated
can someone explain?
REG-65,71,74,73,70,74,79
BEC-60's,60's,69,71,76*,78
FAR-67,66,65,79
AUD-54,60's,65,83*,69,80
*expiredDONE
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