Question: Bren Co.s beginning inventory at January 1, 2011, was understated by $26,000, and its ending inventory was overstated by $52,000. As a result, Brens cost

Bren Co.’s beginning inventory at January 1, 2011, was understated by $26,000, and its ending inventory was overstated by $52,000. As a result, Bren’s cost of goods sold for 2011 was

a. Understated by $26,000.

b. Overstated by $26,000.

c. Understated by $78,000.

d. Overstated by $78,000.

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