Question 23 Not yet The Blotto Company made the following two errors in counting ending inventory: Understated 12/31/12 inventory by $2,000 Understated 12/31/13 inventory by $3,000 answered Points out of 3.00 F Flag question The combination of these two errors will cause: Select one: a. 12/31/13 Retained Earnings to be understated by $3,000 b. 2013 Cost of Goods Sold to be overstated by $3,000 c. 2014 Beginning Inventory to be overstated by $1,000 d. 2014 Cost of Goods Sold to be understated by $1,000 6. 2013 Net Income to be overstated by $1,000 Question 24 Given the following information for the Albuquerque Company: Not yet answered Points out of 3.00 Price Index Inventory at and of-year prices $ 80,000 $100,000 $110,000 12/31/16 12/31/17 12/31/18 100 P Flag question 110 120 Using dollar-value LIFO, the 12/31/18 inventory for the balance sheet is approximately Select one: a. $91,667 b. $90,909 c. $92,909 d. $92,000 e. $91,818