Question: T 3 # 17 Ending inventory for the year ended December 31,2023 , is understated by $8,000. How will this affect net income for 2023

T 3 # 17

Ending inventory for the year ended December 31,2023 , is understated by $8,000. How will this affect net income for 2023 and 2024 ? A. Net income will be overstated by $8,000 in 2023 and 2024 . B. Net income will be understated by $8,000 in 2023 and 2024 . C. Net income will be understated by $8,000 in 2023 and overstated by $8,000 in 2024. D. Net income will be overstated by $8,000 in 2023 and understated by $8,000 in 2024

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