Question: The ending inventory for Pine Co. was erroneously written down causing an understatement of $6,500 at the end of 2013. Required Was each of the

The for Pine Co. was erroneously written down causing an understatement of $6,500 at the end of 2013.

ending inventory for Pine Co. was erroneously written down">

Required
Was each of the following amounts overstated, understated, or not affected by theerror?

Item No Year Amount 2013 2013 2013 2013 2013 2014 2014 2014 2014 2014 2014 Beginning inventory Purchases Goods available for sale Cost of goods sold Gross margin Net income Beginning inventory Purchases Goods available for sale Cost of goods sold Gross margin Net income 4

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