Business Finance 2023 Charles Scrab Inc Has Beginning Inventory Of $15,000, Purchases Of $25,000, And Ending Inventory Of
Charles Scrab Inc has beginning inventory of 15 000 purchases of 25 000 and ending inventory of 10 000 2023
Charles Scrab Inc has beginning inventory of $15,000, purchases of $25,000, and ending inventory of $10,000, sales of $75,000, operating expenses of $30,000, and a tax rate of 40% for 2010. An accounting clerk input the ending inventory as $12,000. What is the effect on 2011 net income?
A. Net income for 2011 will be $1,200 higher than 2010.
B. Net income for 2011 will be $1,200 lower than 2010.
C. Net income for 2011 will be $10,200.
D. Net income for 2011 cannot be calculated with the information given.
Show computations for the answers.
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