If Ending Inventory for the Current Accounting Period Is Understated

question 100

Multiple Choice

If ending inventory for the current accounting period is understated by $4,700:

• A)beginning inventory for the next period will be overstated by $4,700.
• B)net income for the current period will be overstated by $4,700.
• C)owner's equity at the end of the next accounting period will be understated by $4,700.
• D)cost of goods sold for the current period will be overstated by $4,700.