Question 16 5 pts Messemup Company reported cost of goods sold for 2020 of $1,250,000...
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Question 16 5 pts Messemup Company reported cost of goods sold for 2020 of $1,250,000 and net income of $337,500 on the 2020 financial statements. At year end 2021, Messemup discovered that its beginning inventory at December 31, 2020, was overstated by $97,500. The corrected amount for net income as of December 31, 2020 is: None of these are correct $240,000 $435,000 $337.500
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