a customer uses their better life gym credit card to charge a treadmill

11) If ending inventory is overstated in 2021, and no further errors are made in 2022, then profit will be a) overstated in 2021 and understated in 2022. b) understated in 2021 and overstated in 2022. c) overstated in both 2021 and 2022. d) overstated in 2021 and correct in 2022. Revaluation of inventories to net realizable value should occur a) only if the amount is material. b) at year end only. c) in the period during which the decline occurs. d) at management's discretion. 12)