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For each of the following inventory errors occurring in 2024, determine the effect of the...

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Accounting

For each of the following inventory errors occurring in 2024, determine the effect of the error on 2024's cost of goods sold, net
income, and retained earnings using understated, overstated, or no effect. Assume that the error is not discovered until 2025 and that
a periodic inventory system is used. Ignore income taxes.
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