Beginning inventory is overstated

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Which of the following is correct when, in the same year, beginning inventory is overstated by $1,300 and ending inventory is understated by $700?

Net income is understated by $600.

Net income is understated by $2,000.

Net income is overstated by $600.

Net income is overstated by $2,000.

Reference no: EM13755162

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