Randwick Ltd Has a Year-End of 30 June 2009 B)

Randwick Ltd has a year-end of 30 June 2009.During the year the following errors were discovered. - Merchandise inventory at the factory had been understated by $44 000.
- Goods on consignment from a supplier for $13 000 were included in inventory at the shops.
- Physical inventory for one warehouse had a shortage of $58 000.
What is the net effect of above errors in the statement of comprehensive income and statement of financial position (inventory) accounts of Randwick Ltd?

A)
$$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Statement of } \\\text { comprehensive income }\end{array} & \begin{array} { c } \text { Statement of financial } \\\text { position (inventory) }\end{array} \\\hline \text { Increase } & \text { Increase } \\\hline\end{array}$$
B)
$$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Statement of } \\\text { comprehensive income }\end{array} & \begin{array} { c } \text { Statement of financial } \\\text { position (inventory) }\end{array} \\\hline \text { Decrease } & \text { Increase } \\\hline\end{array}$$
C)
$$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Statement of } \\\text { comprehensive income }\end{array} & \begin{array} { c } \text { Statement of financial } \\\text { position (inventory) }\end{array} \\\hline \text { Decrease } & \text { Decrease } \\\hline\end{array}$$
D)
$$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Statement of } \\\text { comprehensive income }\end{array} & \begin{array} { c } \text { Statement of financial } \\\text { position (inventory) }\end{array} \\\hline \text { Increase } & \text { Decrease } \\\hline\end{array}$$