The Inventory Reported on Lazzard Company's Statement of Financial Position $£ 1,250,000$

Multiple Choice

The inventory reported on Lazzard Company's statement of financial position is understated by $£ 1,250,000$ . The company's reported net income for the period will be

A) understated by $£ 1,250,000$ .
B) overstated by $£ 1,250,000$ .
C) correct.
D) need more information to determine.