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Ending inventory for the year ended December 31, 2020, is overstated by $26,000. How will this error affect net income for 2021? O Net income

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Ending inventory for the year ended December 31, 2020, is overstated by $26,000. How will this error affect net income for 2021? O Net income will be understated by $26,000. O Net income will be understated by $52,000. Net income will be overstated by $26,000. Net income will be overstated by $52,000. The understatement of inventory in 2017 will not affect income in 2018

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