Respuesta :
A company's cost of goods sold and inventory on its balance sheet might be impacted by the assumptions it makes about the flow of its income statement.
A company's financial success over a particular accounting period is reported using one of the three key financial statements, the income statement. The cash flow statement and the balance sheet are the other two important statements.
The income statement focuses on the company's earnings for a specific time period, including profits and losses. An income statement, balance sheet sometimes referred to as a profit and loss (P&L) statement or a summary of sales and expenses, offers crucial information about a balance sheet company's operations, the effectiveness of its leadership, underperforming industries, and performance in comparison to peers in the same sector.
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The complete question is
The assumption that a company makes about its inventory cost flow can affect cost of goods sold on its __________ and inventory on its __________.
