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Effect of inventory errors During the taking of its physical inventory on December 3 1 , 2 0 Y 3 , Zula Company incorrectly counted
Effect of inventory errors
During the taking of its physical inventory on December Y Zula Company incorrectly counted its inventory as $ instead of the correct amount of $ Indicate the effect of the misstatement on Zula's December balance sheet or income statement for the year ended December For each, select if the amount is overstated or understated. Then, input the over or under amount, entered as a positive value.
Current assets
Gross profit
Inventory
Net income
Stockholders' equity
Total assets
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