Louisiana State University, Shreveport ACC ACC 701 If ending inventory on the last day of the year is overstated by $9,000, what is the effect onNet Income for the current year ?
for the current year? Assume a tax rate of 0%.
a. Net Income for the current year will be overstated by $9,000.
b. Net Income for the current year will be understated by $9,000.
c. Cost of Goods Sold for the current year will be overstated by $9,000.
d. Cost of Goods Sold for the current year will be understated by $9,000.
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