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Ebbers Corporation overstated its ending inventory balance by $11,500 in the current year. What impact will this error have on cost of goods sold and

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Ebbers Corporation overstated its ending inventory balance by $11,500 in the current year. What impact will this error have on cost of goods sold and gross profit in the current year and following year? Current year: Current year Cost of goods sold Gross profit Following year: Following year Cost of goods sold Gross profit

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