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At the end of 2013, an error was made in the physical count of inventory at Carter Corporation, which resulted in ending inventory being overstated by $10,000. State whether the following amounts were overstated or understated by a specific amount. If net income was reported as $400,000, what was the corrected net income amount?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9800788

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