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If the ending inventory on December 31, 2011, is overstated by $6,000, which of the following would result? A. Net income for 2011 would be
If the ending inventory on December 31, 2011, is overstated by $6,000, which of the following would result?
A. | Net income for 2011 would be understated. | |
B. | Cost of goods sold for 2011 would be understated. | |
C. | Expenses for 2012 would be understated. | |
D. | Net income for 2012 would be overstated. |
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