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Accounting

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The percentage complete for the beginning and ending inventory is an important figure to determine the cost of the work in process inventory and the finished goods inventory. If the ending finished goods inventory is overstated so is the net income. Virginia works for The Paint Palace. She knew that the beginning inventory is last month's ending inventory. She has decided to help the business by overstating the ending inventory percentage complete. Has Virginia violated any ethical area of accounting?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92795351

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