Fran Company”s ending inventory is understated by $4,000. The effects of this error on 1 answer below »
Fran Company"s ending inventory is understated by $4,000. The effects of this error on the current year"s cost of goods sold and net income, respectively, are:
(a) understated and overstated.
(b) overstated and understated.
(c) overstated and overstated.
(d) understated and understated.