Albert company discovers in 2017 that its ending inventory, Accounting Basics

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Albert company discovers in 2017 that its ending inventory

Question: Albert Company discovers in 2017 that its ending inventory at December 31, 2016, was $5,000 understated. What effect will this error have on

(a) 2016 net income,

(b) 2017 net income, and

(c) the combined net income for the 2 years?

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Accounting Basics: Albert company discovers in 2017 that its ending inventory

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