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A company reported the net income of S58,000 for the year ending 2018. However, it was discovered that the opening inventory was overstated by $9,000

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A company reported the net income of S58,000 for the year ending 2018. However, it was discovered that the opening inventory was overstated by $9,000 and the ending inventory is understated by S11,000. Compute the corrected net income. a. $60,000 b. $78,000 c. $56,000 d. $47,000

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