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(5 points) In 2020, Schwei Co. overstated ending inventory by $740,000 and understated depreciation by $592,000. In 2021, Schwei Co. understated ending inventory by $1,036,000
(5 points) In 2020, Schwei Co. overstated ending inventory by $740,000 and understated depreciation by $592,000. In 2021, Schwei Co. understated ending inventory by $1,036,000 and overstated depreciation by $474,000. Based on these numbers, what was the error in Schwei Co.'s 2021 net income? (RE&CF 13) Understated by $2,250,000 Understated by $1,510,000 Understated by $562,000 Understated by $178,000
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