Current year accounting -the profit and loss statement shows the low cost of goods sold gross profit and net profit went up to -balance sheet. Show high inventories. Total assets up to
Current year - income statement shows the cost of sales, gross profit and net profit low to high. - The balance sheet shows inventory high. High to total assets
Installment account current year - income statement shows the cost of selling low, profit and net profit high - balance sheet shows high inventories, total assets is high!