QUESTION Rivers in leported income of $65.000 for the current year. Rivers determined that inventory was understated by $10.000 at the beginning of the year and understated by 55.000 at the end of the year. Assuming a tax rate of 30 percent what is the corrected amount of net income for the year? 354.500 561.500 1.500 175.500 QUESTION Web World began using dollar va uro for costing its inventory last year. The base yuar Layer consists of $500.000. Assuming there are no old layers of inventory besides the baselayer and the current inventory at end of year prices quals 1666.000what is the ending inventory using dollar value of the inden for the current year is 1.100 1600.000 5610.000 $600.000 5620.000