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C. Good Eyeglasses overstated its inventory by $30,000 at the end of 2018. In 2019, the discovery of this error, before adjusting or closing entries,
C. Good Eyeglasses overstated its inventory by $30,000 at the end of 2018. In 2019, the discovery of this error, before adjusting or closing entries, would require:
Multiple Choice
An increase in retained earnings.
A debit to inventory of $30,000.
A prospective adjustment in the 2019 income statement.
None of these answer choices are correct.
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