Question: For each of the following separate errors, determine the effect on ( 1 ) cost of goods sold, and ( 2 ) pretax income in

For each of the following separate errors, determine the effect on (1) cost of goods sold, and (2) pretax income in the year of the error.
Cost of Goods SoldPretax Incomea. Overstatement of ending inventory.Answer 1UnderstatedOverstatedNo differenceAnswer 2UnderstatedOverstatedNo differenceb. Understatement of ending inventory.Answer 3UnderstatedOverstatedNo differenceAnswer 4UnderstatedOverstatedNo differencec. Overstatement of beginning inventory.Answer 5UnderstatedOverstatedNo differenceAnswer 6UnderstatedOverstatedNo differenced. Understatement of beginning inventory.Answer 7UnderstatedOverstatedNo differenceAnswer 8UnderstatedOverstatedNo differencee. Overstatement of purchases.Answer 9UnderstatedOverstatedNo differenceAnswer 10UnderstatedOverstatedNo differencef. Understatement of purchases.Answer 11UnderstatedOverstatedNo differenceAnswer 12UnderstatedOverstatedNo difference

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