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

The beginnings inventory of the current year is overstated by ` 5,000

1.	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.	17,000 (overstated)
B.	12,000 (understated)
C.	7,000 (overstated)
D.	7,000 (understated)
Answer» D. 7,000 (understated)