In 2024, Waterway International, Incorporated's controller discovered that ending inventories for 2022 and 2023 were...
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Accounting
In 2024, Waterway International, Incorporated's controller discovered that ending inventories for 2022 and 2023 were overstated by $250,000 and $550,000, respectively. Determine the effect of the errors on retained earnings at January 1, 2024, (ignore income taxes.)
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