Question: 3. Two separate errors affected computer sales in 2013. The beginning inventory was understated by $28,000 and the ending inventory was understated by $43,000. Net

3. Two separate errors affected computer sales in 2013. The beginning inventory was understated by $28,000 and the ending inventory was understated by $43,000. Net income in 2013 will be O understated by $43,000. Ounderstated by $71,000. Ounderstated by $15,000. Ooverstated by $15,000. 4. Two separate errors affected computer sales in 2013. The beginning inventory was overstated by $12,000 and the ending inventory was overstated by $18,000. Net income in 2013 will be Ooverstated by $30,000. Ooverstated by $12,000. Ounderstated by $6,000. Ooverstated by $6,000. 5. Using the lower-of-cost-or-market rule of valuing inventory allows the accountant to attain O consistency. O matching. O conservatism. O full disclosure

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