If an error has been made causing the a physical inventory count at the end of 20X4 to be incorrect, causing inventory to be understated, how does it affect the following accounts in 20X4?
- BI:
- NP:
- EI:
- COGS:
- NI:
- Inventory
- RE:
- AP:
20X4:
- BI: n/e
- NP: n/e
- EI: understated
- COGS: overstated
- NI: understated
- Inventory: understated
- RE: understated
- AP: n/e
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