1. Wolfpack Corp, uses the perpetual inventory systems. At the end of 2019, Wolfpack Corp performs a physical inventory count showing the cost of its ending inventory is $40,000 higher than its "Inventory" account balance. Which of the following shows the correct response for what Wolfpack should do because of this difference? A. It should credit its Sales Revenue" account by $40,000. B. It should credit its Cost of Goods Sold" account by $40,000. C. It should credit its "Inventory" account by $40,000. D. It should debit its Sales Revenue" account by $40,000. E. It should not make a journal entry of any sort. 10. At the start of 2019, Finn Corp.'s beginning inventory was understated by $18,000. In addition, during 2019, Finn understated its net purchases by $10,000. The cost of ending inventory at 12/31/19 is correctly stated. Before reflecting on any adjustments for the above error items, Finn's net income on its 2019 income statement was $700,000. What should Finn report as its corrected net income for 2019? Ignore income tax effects. A. $728.000 B. $692,000 C. $700,000 D. $708,000 E. $672,000