Question: Current Attempt in Progress Vaughn, Inc. has had some turnover in its parts inventory area. As a result, some inventory counting errors have been made

Current Attempt in Progress Vaughn, Inc. has had some turnover in its parts inventory area. As a result, some inventory counting errors have been made in taking the physical ending inventory in the last two fiscal years. Its financial statements for the years 2026 and 2025 contained errors as follows: Ending inventory Fiscal 2026 $2300 understated Fiscal 2025 $17200 overstated Vaughn has a 9/30 fiscal year-end. Assume that no correcting entries were made and that no additional errors occurred in fiscal 2027. Ignoring income taxes, by how much will income be overstated or understated at 9/30/26? $19500 understated $2300 overstated O $14900 overstated O $2300 understated

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