Question: If a company makes an error in counting its ending inventory such that it is overstated from its true value by $10,000 then: Multiple Choice

If a company makes an error in counting its ending inventory

If a company makes an error in counting its ending inventory such that it is overstated from its true value by $10,000 then: Multiple Choice Net income will be overstated this period O O Cost of sales will be overstated by $10,000 this period Net Income for the period will be understated for this period O The error has no effect on income since inventory is a balance sheet account O O None of the other alternatives are correct

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