At thebeginningof Year 1, the company's inventory level was UNDERstated by $800. [In other words, the inventory at the end of Year 0 was UNDERstated by $800.] At the end of Year 1, inventory was OVERstated by $2,000. At the end of Year 2, inventory was UNDERstated by $450. In summary,threeinventory errors have occurred.Reported net income was $3,000 in Year 1 and $3,000 in Year 2.Thecorrectamount of net income in Year 1 and in Year 2 is...

$1,800 in Year 1 and $550 in Year 2.

$1,000 in Year 1 and $550 in Year 2.

$1,000 in Year 1 and $2,450 in Year 2.

$5,800 in Year 1 and $5,450 in Year 2.

$1,000 in Year 1 and $3,450 in Year 2.

$200 in Year 1 and $550 in Year 2.

$5,800 in Year 1 and $550 in Year 2.

$200 in Year 1 and $5,450 in Year 2.

Can someone tell me if this is correct?