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Q The beginnings inventory of the current year is overstated by 5,000 and closing inventory is overstated by 12,000. These errors will cause the net income for the current year by

A A. 17,000 (overstated.
B B. 12,000 (understated.
C C. 7,000 (overstated.
D D. 7,000 (understated.

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