If an error has been made causing the EI of 20X3 to be overstated, how does it affect the following accounts in 20X4?
- BI:
- NP:
- EI:
- COGS:
- NI:
- Inventory
- RE:
- AP:
20X3:
- BI: overstated
- NP: n/e
- EI: n/e
- COGS: overstated
- NI: understated
- Inventory: n/e
- RE: n/a (has now self-corrected)
- AP: n/e
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