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during the taking of its physical inventory on December 31, 20Y3, Zulu company incorrectly counted its inventory as $283,825, instead of the correct amount of

during the taking of its physical inventory on December 31, 20Y3, Zulu company incorrectly counted its inventory as $283,825, instead of the correct amount of $312,210. Indicate the effect of the misstatement on Zulas December 21, 20Y3, balance sheet or income statement for the year ended December 31, 20Y3.
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