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If inventory at the end of the year is understated by $60,000, what will this...

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Accounting

If inventory at the end of the year is understated by $60,000, what will this error cause?

a. An overstatement of inventory for the year by $60,000

b. An overstatement of gross profit for the year by $60,000

c. An understatement of net income for the year by $60,000

d. An understatement of cost of goods sold for the year by $60,000

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