Net income at year end will be understated if Group of answer choices A. Inventory at year end is overstated B. Sales revenue during the year is overstated C. Accrued income is not recognized D. Insurance expense is not recognized

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.