Effects of inventory errors

Response to the following problem:

The ending inventory of CBCA Inc. is overstated by $5,000 at December 31, 2015. What is the effect on 2015 net income? What is the effect on 2016 net income assuming that no other inventory errors have occurred during 2016?

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Cost Accounting: Effects of inventory errors
Reference No:- TGS02089311

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