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Read through carefully different figures. Options for number 2 are overstated, understated or no effect Cornerstone Exercise 6-28 (Algorithmic) Inventory Eirors Mclelland Inc. reported net

Read through carefully different figures. Options for number 2 are "overstated, understated or no effect" image text in transcribed
Cornerstone Exercise 6-28 (Algorithmic) Inventory Eirors Mclelland Inc. reported net income of $150,000 for 2019 and $165,000 for 2020 . Early in 2020 , Mcteliand discovers that the December 31,2019 end ng inventory was overstated by 57,200 . For simploty, lgnore toxes: Required: 1. What is the correct net income for 20197 for 2020

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