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For each of the following inventory errors occurring in 2021 , determine the effect of the error on 2021 's cost of goods sold, net

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For each of the following inventory errors occurring in 2021 , determine the effect of the error on 2021 's cost of goods sold, net income and retained earnings. Assume that the error is not discovered until 2022 and that a periodic inventory system is used. Ignore income taxes. U= Understated O= Overstated NE= No effect

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