What effect did this error have on the year-end financial statements? 1 answer below »

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What effect did this error have on the year-end financial statements? 1 answer below »

A material overstatement in ending inventory was discovered after the year-end financial statements of acompany were issued to the public. What effect did this error have on the year-end financial statements?Current assets Gross profita. Understated Overstatedb. Overstated Overstatedc. Understated Understatedd. Overstated Understated

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