Question: posside Submit test The ending merchandise inventory for the current year is understated by $ 3 , 0 0 0 . What effect will this

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The ending merchandise inventory for the current year is understated by $3,000. What effect will this error have on this year's and the following year's net income?
A. The net income will be understated by $3,000 this year and overstated by $6,000 next year.
B. The net income will be overstated by $3,000 this year and understated by $6,000 next year.
C. The net income will be overstated by $3,000 this year and understated by $3,000 next year.
D. The net income will be understated by $3,000 this year and overstated by $3,000 next year.
posside Submit test The ending merchandise

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