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Borys Company s periodic inventory at December 3 1 , 2 0 1 9 , is understated by $ 1 0 , 0 0 0

Borys Company

s periodic inventory at December

31, 2019,

is understated by $

10, 000,

but purchases are correct. Johnson correctly values its

2020

ending inventory. What is the effect of this error on Borys

2019

and

2020

financial statements?

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