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H3Ko H3Ko
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7 years ago
The ending merchandise inventory for the current year is overstated by $28,000. What effect will this error have on the following year's net income?
A) The net income will be overstated by $56,000.
B) The net income will be overstated by $28,000.
C) The net income will be understated by $56,000.
D) The net income will be understated by $28,000.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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7 years ago
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H3Ko Author
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#2
7 years ago
I just realized you had posted this! Thanks so much
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#3
7 years ago
Happy to help Smiling Face with Open Mouth
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