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Detailed answer please Navajo Company's financial statements show the following. The company recently discovered that In ma Inventory. It had made the following errors: Year

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Detailed answer please

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Navajo Company's financial statements show the following. The company recently discovered that In ma Inventory. It had made the following errors: Year 1 ending Inventory is understated by $50,000, and Year overstated by $20.000. For Year Ended December 31 Year 1 Year 2 Year 3 (a) Cost of goods sold 725,000 955,000 790,060 (b) Net Income 268,000 275,000 250,000 (

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