题目内容

Regardless of the inventory costing system used, cost of goods available for sale must be allocated at the end of the period between ( )

A. beginning inventory and net purchases during the period.
B. ending inventory and beginning inventory.
C. net purchases during the period and ending inventory.
D. ending inventory and cost of goods sold.

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The understatement of the ending inventory balance causes: ( )

A. Cost of goods sold to be overstated and net income to be understated.
B. Cost of goods sold to be overstated and net income to be overstated.
Cost of goods sold to be understated and net income to be understated.
D. Cost of goods sold to be understated and net income to be overstated.

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