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Determine the effect of the errors on retained earnings

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Reference no: EM13882624

1.In 2013, Winslow International, Inc.'s controller discovered that ending inventories for 2011 and 2012 were overstated by $200,000 and $500,000, respectively. Determine the effect of the errors on retained earnings at January 1, 2013. (Ignore income taxes.) 

Reference no: EM13882624

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