(Answered) 1 during 2010 the accountant discovered that the physical

Accounting

1. During 2010, the accountant discovered that the physical inventory at the end of 2009 had been understated by $11,900. Instead of correcting the error, however, the accountant assumed that an $11,900 overstatement of the physical inventory in 2010 would balance out the error. Are there any flaws in the accountant's assumption? Explain.

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