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Sagot :
The given statement is True. Stock that is still unsold at the end of an accounting period is referred to as ending inventory. Several inventory valuation approaches can be used to value the ending inventory.
Work-in-progress items finished things, and raw materials are the three types of inventory. The beginning inventory of the following period will be overstated if the ending inventory for the current period is overstated. The exaggerated initial inventory will also result in an overstatement of the cost of goods sold, which will understate the net revenue for the following period. Both the income statement and the balance sheet are impacted by inventory. The assets on the balance sheet will likewise be overstated if the ending inventory is overstated.
To learn more about balance sheet please click on the given link: https://brainly.com/question/26323001
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