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EX 6-17 Effect of errors in...

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Accounting

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EX 6-17 Effect of errors in physical inventory Madison River Supply Co. sells canoes, kayaks, whitewater rafts, and other boating supplies. Dur- ing the taking of its physical inventory on December 31, 20Y8, Madison incorrectly counted its inventory as $545,000 instead of the correct amount of $555,400. Obj. 6 Continued)

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