If the beginning inventory of the current year and the ending inventory of the past year were overstated by the same amount:
A) Retained earnings at the end of the current year would be correct.
B) Retained earnings at the end of the current year would be overstated.
C) Retained earnings at the end of the current year would be understated.
D) Profit for the current year would be correct.
Correct Answer:
Verified
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