Business, 07.11.2019 00:31 aprilreneeclaroxob0c

Guns r us overstated its ending inventory in the current year by $5,000. the company incorrectly reported $100,000 of net income. explain the consequences of this error on the current period's income statement.
a. cost of goods sold will be too high by $5,000.
b. cost of goods sold will be too low by $5,000.
c. the correct net income amount should have been $105,000.

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Guns r us overstated its ending inventory in the current year by $5,000. the company incorrectly rep...

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