If an error has been made causing an overstatement of inventory in 20X3, how does it affect the following accounts in 20X3?
- BI:
- NP:
- EI:
- COGS:
- NI:
- Inventory
- RE:
- AP:
In 20X3 -
- BI: n/e
- NP: overstated
- EI: n/e
- COGS: overstated
- NI: understated
- Inventory: n/e
- RE: understated
- AP: overstated
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