at the end of 2 0 2 1 fairy co understated their ending inventory by 4 0 0 0 assuming this never corrected which of the following is ture? 2 0 2 1 net income is understated by 4 0 0 0 and 2 0 2 2 net income is understated by 4 0 0 0 , 2 0 2 1 net income is overstated by 4 0 0 0 and 2 0 2 2 net income is understated by 4 0 0 0 , 2 0 2 1 net income is understated by 4 0 0 0 and 2 0 2 2 net income is correct, or 2 0 2 1 net income is understated by 4 0 0 0 and 2 0 2 2 net income is ovestated by 4 0 0 0