The ending inventory of CBCA Inc. is overstated by $5,000 at December 31, 2015. What is the

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The ending inventory of CBCA Inc. is overstated by $5,000 at December 31, 2015. What is the effect on 2015 net income? What is the effect on 2016 net income assuming that no other inventory errors have occurred during 2016?
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...
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