Slowinski Corporation Reported Net Income of $425,000 for the Current

question 34

Multiple Choice

Slowinski Corporation reported net income of $425,000 for the current year.After the financial statements had been prepared,it was discovered that ending inventory had been overstated by $25,000 and beginning inventory was understated by $1,000.The correct net income was:

• A)$399,000.
• B)$401,000.
• C)$424,000.
• D)$426,000.

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