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Inventory is overstated as of December 31,2021 . What is the impact of the error on the 2022 (the next fiscal year's) financial statements? a)

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Inventory is overstated as of December 31,2021 . What is the impact of the error on the 2022 (the next fiscal year's) financial statements? a) No impact on 2022's financial statements b) Ending inventory is understated as of December 31, 2022. c) Net income is overstated in 2022. d) Net income is understated in 2022

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