If an organization fails to count or value inventory correctly, Select answer from the options below there will be an error on the income statement, but the balance sheet will not be impacted. there will be an error on the balance sheet, but the income statement will not be impacted. there will be an error that affects both the balance sheet and the income statement. neither the balance sheet nor the income statement will be impacted, but a footnote to disclose the error will be necessar