Multiple Choice
West Corporation's 2015 ending inventory was overstated by $20,000;however,ending inventory for 2016 was correct.Which of the following statements is correct?
A) Net income for 2015 is understated.
B) Retained earnings at the end of 2016 is overstated.
C) Cost of goods sold for 2015 is overstated.
D) Cost of goods sold for 2016 is overstated.
Correct Answer:
Verified
Correct Answer:
Verified
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