Q.
1
Assertion (A): Increasing the value of closing inventory increases profit
Reason (R): Increasing the value of closing inventory reduces cost of goods sold.
In the context of the above two, statements, which of the following is correct?
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A
Both (A) and (R) are correct
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B
Only (A) is correct
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C
Only (R) is correct
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D
Both (A) and (R) are wrong