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Which of the following is correct when, in the same year, beginning inventory is understated by $1,380 and ending inventory is understated by $740? Net
Which of the following is correct when, in the same year, beginning inventory is understated by $1,380 and ending inventory is understated by $740?
Net income is understated by $2,120.
Net income is overstated by $640.
Net income is overstated by $2,120.
Net income is understated by $640.
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