30) What is the effect on current year's income of understating ending inventory by $11,000 (ignore taxes and assume purchases were recorded properly)? 2 Points Understated by exactly $11,000. Overstated by exactly $11,000. No effect. Overstated by $22,000. None of these. 31) Which of the following investments would be accounted for by adjusting to fair value, and reporting the change in value as a component of "other comprehensive income? 2 Points Available for sale securities. Trading securities. Held to maturity investments. Equity method investments. None of these.