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Ending inventory is understated $5,000 at 12/31/X6. Ending inventory is overstated $8,000 at 12/31/X7. Reported net income for X7 = $62,000. What is correct net

Ending inventory is understated $5,000 at 12/31/X6. Ending inventory is overstated $8,000 at 12/31/X7. Reported net income for X7 = $62,000. What is correct net income for X7?

A. $49,000

B. $59,000

C. $69,000

D. $75,000

E. None of the above.

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