A business received a delivery of goods on 29 June 2006, which was included in inventory at 30 June 2006. The invoice for the goods was recorded in July 2006. What effect will this have on the business? 1  rofit for the year ended 30 June 2006 will be overstated. 2 Inventory at 30 June 2006 will be understated. 3  rofit for the year ending 30 June 2007 will be overstated. 4 Inventory at 30 June 2006 will be overstated. A 1 and 2 B 2 and 3 C 1 only D 1 and 4
C |