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Cody Company reports net income of $104,400 in 2010. However, ending inventory was understated $18,820. What is the correct net income for 2010? $ What

Cody Company reports net income of $104,400 in 2010. However, ending inventory was understated $18,820. What is the correct net income for 2010? $ What effect, if any, will this error have on total assets as reported in the balance sheet at December 31, 2010? Total assets in the balance sheet

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