Question: (5 points) What effect would understating 2023 beginning inventory have on net income and ending total assets for 2023 (assuming no errors in the year-end

(5 points) What effect would understating 2023 beginning inventory have on

(5 points) What effect would understating 2023 beginning inventory have on net income and ending total assets for 2023 (assuming no errors in the year-end 2023 inventory counts? (A 13) Net income will be overstated; total assets will be correct. Net income will be correct; total assets will be overstated. Net income will be overstated; total assets will be understated. Net income will be understated; total assets will be overstated

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