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In 2020, Olive Corporation had income before tax of $360,000. If beginning inventory was overstated...

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Accounting

In 2020, Olive Corporation had income before tax of $360,000. If beginning inventory was overstated by $20,000 and ending inventory was understated by $8,000. What is Redferns corrected pre-tax income for 2020?

a.

$388,000

b.

$348,000

c.

$372,000

d.

$332,000

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