If there is an error in the ending inventory affecting the net income of the...
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If there is an error in the ending inventory affecting the net income of the current period, what will happen to the net income of the next accounting period? If net income was overstated in the current period, it will be overstated in the next period. It will have no effect on the net income of the next accounting period. It will have the reverse effect on the net income during the next accounting period. Cannot be determined from the information given. 
If there is an error in the ending inventory affecting the net income of the current period, what will happen to the net income of the
next accounting period?
If net income was overstated in the current period, it will be overstated in the next period.
It will have no effect on the net income of the next accounting period.
It will have the reverse effect on the net income during the next accounting period.
Cannot be determined from the information given.
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