1.【答案】C。
解析：Closing inventory is understated, cost of sales will be overstated. Next year opening inventory will be understated and cost of sales will be understated.
Opening inventory+purchase-cost of sales=closing inventory
==> Cost of sales ↑ =opening inventory+purchase-closing inventory ↓
==> cost of sales升高导致本年profit下降
本期的期末存货即下年期初存货，本期期末存货低估导致下年期初存货同样也被低估。
==> Cost of sales ↓ =opening inventory ↓ +purchase-closing inventory
知识点：Accounting for opening and closing inventories
2.【答案】C。
解析：
知识点：Valuing inventories
