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Ebbers Corporation overstated its ending inventory balance by $8,500 in the current year. What impact will this error have on ending inventory and retained earnings

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Ebbers Corporation overstated its ending inventory balance by $8,500 in the current year. What impact will this error have on ending inventory and retained earnings in the current year and following year? Ignore any tax effects. Current year: Current year Ending inventory Retained earnings ces Following year: Following year Ending inventory Retained earnings

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