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Kenya Thomas
on Nov 15, 2024

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If ending inventory is overstated this period, beginning inventory will be understated in the next period.

Ending Inventory

The total value of a company's merchandise or goods that have not been sold at the end of an accounting period.

Beginning Inventory

The value of a company's inventory at the start of an accounting period, prior to any purchases or sales.

Next Period

A future accounting period where transactions will be recorded and reported.

  • Understand the consequences of errors in stocktaking.
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katie overtonNov 16, 2024
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