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Which of the following is correct when, in the same year, beginning inventory is understated by $ 1 , 6 2 0 and ending inventory

Which of the following is correct when, in the same year, beginning inventory is understated by $

1, 620

and ending inventory is understated by $

860 ?

Multiple Choice

Net income is overstated by $

760 .

Net income is understated by $

2, 480 .

Net income is understated by $

760 .

Net income is overstated by $

2, 480 .

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