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  3. during 20y6, candle co. realizes that its beginnin

During 20Y6, Candle CO. realizes that its beginning inventory for 20Y5 was...

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Accounting

During 20Y6, Candle CO. realizes that its beginning inventory for 20Y5 was overstated by $3,200. Net income for 20Y5 was $19,250.
a. What is the correct net income for 20Y5?
b.What is the effect of the error on the balance sheet for 20Y5?

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