Ending inventory for the year ended December 31, 2017, is understated by $26,000. How will this error affect net income for 2018?
A) Net income will be understated by $52,000.
B) Net income will be overstated by $52,000.
C) Net income will be understated by $26,000.
D) Net income will be overstated by $26,000.
Correct Answer:
Verified
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