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Errors in Inventory Counts The following information was taken from the records of Hawk Enterprises: The following two errors were made in the physical inventory

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Errors in Inventory Counts The following information was taken from the records of Hawk Enterprises: The following two errors were made in the physical inventory counts: 1. Year 1 ending inventory was overstated by $28,000 2. Year 2 ending inventory was understated by $17,000

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